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| Data Timeline | Historical Data: 2022–2025 | Base Year: 2025 | Forecast Period: 2026–2034 |
|---|---|
| Type Segment | Public, Private, Hybrid |
| Component Segment | Application & Solution, Infrastructure & Protocols, Middleware |
| Enterprise Size Segment | Large Enterprises, Small & Medium Enterprises |
|---|---|
| Application Segment | Remittances, KYC & Fraud Prevention, Risk Assessment |
| Regions & Countries |
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Country-level data · Company profiles · Editable dataset · Analyst consultation included.
| Region / Country | 2021 (A) | 2025 (A) | 2033 (P) | CAGR |
|---|
A = Actual · E = Estimated · P = Projected · 🔒 Locked values require full access. Click headers to sort.
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In the retail banking industry, blockchain technology is primarily concentrated among a small number of prominent participants. The primary objective of prominent participants is to broaden their customer base by implementing new business strategies and technologies. International banking has also created numerous business opportunities to expand its services to a broader global audience. For instance, in 2022, PayBito, a US-based exchange, expanded its presence in Japan by providing its primary crypto-banking solutions to prominent Japanese financial organizations. As a result, this market offers crypto-venturing institutions the chance to expand their services globally, which is anticipated to further accelerate the industry's expansion.
In October 2022, The blockchain solutions platform "Quartz" was introduced by Tata Consultancy Services Ltd. Commercial and central banks can utilize this product to facilitate transactions, bookkeeping, and the entire lifecycle of Central Bank Digital Currency (CBDC) issuance. (Source: https://www.tcs.com/who-we-are/newsroom/press-release/tcs-quartz-help-central-banks-financial-institutions-introduce-central-bank-digital-currencies) In June 2022, Santander Bank, N.A. executed an agreement with ICICI Bank, India's private sector bank. Santander would establish a framework between partnered institutions to satisfy the financial service needs of corporate customers in India through this agreement. -UK corridor. (Source: https://www.icicibank.com/about-us/article/news-icici-bank-signs-mou-with-santander-uk-plc-20221005162425856) In January 2022, Zinia, a new buy-now, pay-later (BNPL) platform, was recently introduced by Santander Bank, N.A. This product would provide consumers with interest-free installments from either the point of sale or online. (Source: https://www.santander.com/en/press-room/press-releases/2022/01/santander-launches-zinia-its-new-buy-now-pay-later-service#:~:text=Zinia's%20BNPL%20service%20simplifies%20shopping,exclusive%20offers%20and%20financing%20alternatives.)
| Company | 2022 (A) | 2023 (A) | 2024 (A) | 2025 (A) |
|---|---|---|---|---|
| Cegeka | ••• | ••• | ••• | ••• |
| Microsoft | ••• | ••• | ••• | ••• |
| BitPay | ••• | ••• | ••• | ••• |
| IBM | ••• | ••• | ••• | ••• |
| Goldman Sachs | ••• | ••• | ••• | ••• |
| Amazon Web Services | ••• | ••• | ••• | ••• |
| Inc. | ••• | ••• | ••• | ••• |
| SAP SE | ••• | ••• | ••• | ••• |
| Intel Corporation | ••• | ••• | ••• | ••• |
| Oracle | ••• | ••• | ••• | ••• |
| Bitfury Group Limited. | ••• | ••• | ••• | ••• |
Revenue data requires full access. *2nd & 3rd tier companies available on enquiry.
Request company profile for validation →According to Cognitive Market Research, the global Blockchain in Retail Banking market size was USD 1154.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 83.10% from 2024 to 2031.
Retail banking is being transformed by blockchain technology, which provides enhanced security, transparency, and efficiency. This technology enables banks to eliminate intermediaries, thereby optimizing operations and reducing expenses. Blockchain facilitates the creation of data-driven services for clients as a growing number of retail institutions adopt digital business models. The adoption of smart contracts is being driven by their ability to strengthen identity verification processes and facilitate secure transactions. The market is experiencing significant growth due to the increasing demand for digital payment solutions, which are driven by consumers' desire for more convenient and expedited transaction methods. Traditional banks are compelled to innovate and employ blockchain technology in order to meet the evolving needs of their clients, as the emergence of fintech ventures intensifies competition. As the banking sector undergoes a digital transformation, blockchain technology is on the brink of enhancing the consumer experience and ensuring the security and integrity of data.
In December 2020, Tata Consultancy Services Ltd. has launched a new Digital Bank Guarantee platform that is based on the Quartz Blockchain solution, thereby expanding their business with Israel. The expansion of TCS has bolstered its efforts to develop a solution that is both elegant and distinctive, and that unites market participants to secure a distributed ledger for bank guarantees. (Source: https://www.tcs.com/who-we-are/newsroom/press-release/tcs-launches-new-blockchain-based-digital-bank-guarantee-platform-in-israel-bank-hapoalim)
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| Type | Public, Private, Hybrid |
| Component | Application & Solution, Infrastructure & Protocols, Middleware |
| Enterprise Size | Large Enterprises, Small & Medium Enterprises |
| Application | Remittances, KYC & Fraud Prevention, Risk Assessment |
| List of Competitors | Cegeka, Microsoft, BitPay, IBM, Goldman Sachs, Amazon Web Services, Inc., SAP SE, Intel Corporation, Oracle, Bitfury Group Limited. |
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
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