The world in general has made such tremendous advancements in the tech field that to the younger generations, the concept of legacy systems seems foreign. Though it might seem like withdrawing cash from an ATM is a traditional way of dealing with finances, as opposed to just transacting through e-wallets, it in fact is one of the foundations of emergence of the fintech sector. To many, the Fintech industry is a newly formed industry, but fintech goes as far back in time as the late 1800s. It started with transactional cables and Electronic Fund Transfers, and now the people in this world can get insurance for themselves without submitting any hardcopies or meeting the agent, they can get loans within the matter of few hours, lending money has never been easier, and trading activities can be done though our phones without the involvement of any middlemen. Today, there are 5,779 fintech startups in the Americas alone, stated FinancesOnline.

These products, among many others are all a result of innovations made in the finance arena, using advanced technologies by financial institutions. Hence, the term Fintech seems most appropriate. Companies offering financial products and solutions blended with technology are fintech companies, and these firms have come a long way. Fintech companies today are not just limited to dealing with transactions of money, they are also about securing money, making more of it, utilizing it effectively as well as establishing additional sources out of it. Today, there are fintech platforms, APIs, payment solutions, lending products, insurance and trading systems, along with investment tools, which can all be accessed and utilized by the customers from their electronic devices and not have to deal with heavy paper-work, long procedures, and unreliable sources. The global financial sector is expected to be worth US$26.5 trillion in 2022 with a CAGR of 6%.

“Financial institutions must be able to deliver an easy to navigate, a seamless digital platform that goes far beyond a miniaturized online banking offering.” – Jim Marous, contributor to Forbes and the co-publisher of The Financial Brand.

With technology being at the core of financial products, it has become possible for customers to transact and transfer with extended security and cut down on any additional spending that occurs with traditional companies. One such advancement is Cryptocurrency Stocks.

As of April 2019, there are 4,518 Bitcoin ATMs worldwide, with the United States being the country with the highest number of Bitcoin ATMs.

https://fintecbuzz.com/why-are-fintech-companies-raving-with-cryptocurrency-stocks/