Global fintech revenue has reached $650 billion, growing 21% year-on-year, driven by artificial intelligence, digital assets, and the expansion of banking licenses. While payments led the early wave of growth, other segments continue to develop unevenly across regions. At this pace, the market could reach $2 trillion by 2030, with fintechs continuing to stand out even in a subdued IPO environment.

AI is reshaping financial services by lowering costs, reducing reliance on intermediaries, and accelerating product development. This shift is putting pressure on mid-sized incumbents while favoring large, agile fintech players. At the same time, “horizontal fintechs” — those enabling traditional institutions — are growing faster than customer-facing platforms.

Digital assets are also gaining momentum, particularly stablecoins, which enable faster and more cost-efficient payments, although most activity remains within crypto ecosystems. Combined with tokenization, their total market value could reach up to $4 trillion by 2030.

Fintechs are increasingly pursuing banking licenses to reduce funding costs, expand their service offerings, and strengthen trust. This trend is likely to widen the gap between large, regulated firms and smaller competitors.

Looking ahead, growth will likely concentrate in areas such as digital asset infrastructure, AI-driven solutions, SME lending, and wealth tech. Companies that combine strong unit economics, effective distribution, and smart regulatory strategies will be best positioned to lead.

View the full report here.