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Forbes 2019 'Fintech 50' List Features 6 Blockchain Firms


The Forbes magazine published the list of 50 "Most Innovative Fintech Companies" in the world. California-based personal finance company Acorns tops the "Fintech 50" list with a funding of $257 million.

The 2019 "Fintech 50" list features six blockchain/crypto currency companies, half the number of such firms listed in the 2018 edition.

"While crypto prices and ICOs collapsed, overall investment in fintech surged in 2018, hitting $55 billion worldwide, double the year before", Forbes writers said in the introduction to the fourth edition of the list.

"Big fintechs are getting bigger — 19 of the 2019 Fintech 50 are valued at $1 billion or more," they added.

The six companies featured under "Crypto & Blockchain" categories in the list are Axoni, Bitfury, Circle, Coinbase, Gemini and Ripple.

Using blockchain-based smart contracts to overhaul the back office of the world's biggest derivative markets, Axoni is partnering with world's biggest banks and financial intermediaries. The New York-based company currently has a $59 million funding from Goldman Sachs, JPMorgan and others.

Bitfury is a blockchain service firm that provides software designed to help U.S. law-enforcement and others investigate illicit activity using bitcoin. The Amsterdam-based company has a $150 million funding.

Crypto finance giant Circle last year entered the cryptocurrency exchange business with the purchase of Poloniex. The company, headquartered in Boston, partnered with Coinbase to launch USDC stablecoin in October.

The most heavily funded startup in crypto, San Francisco-based Coinbase expanded to offer cryptocurrency custody, professional and institutional platforms.

Founded by Winklevoss brothers, the Gemini cryptocurrency exchange is licensed as a New York trust company. Licensed to do business in 49 states, Gemini is leading the fight for an SEC approved bitcoin ETF.

San Francisco-based Ripple, the company behind the second-largest crypto asset XRP, has a $94 million funding.

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