The past number of weeks in Europe have been very busy for FinTech. The beginning of June saw Money 20/20 in Amsterdam, closely followed by MoneyConf in Dublin. Both conferences had a strong focus on blockchain and cryptocurrency as emerging technologies. Comparing this focus against the current FinTech Ireland map, only 3 companies are focused on blockchain and cryptocurrencies:
So if Irish indigenous FinTech isn’t busy with blockchain / crypto, where are the majority of the companies focused? It’s clear from the map that there is a focus on FX and Payments. Drilling down further we can see that the vast majority of Payments companies are dealing with payments relating to consumers paying businesses, or C2B.
For our part, TransferMate Global Payments operate primarily in the B2B international payments space. According to McKinsey, B2B represents 98% of the $138tn. cross-border payments market. We believe it’s a hugely underserved market, and our mission at TransferMate is to change the way businesses pay and get paid internationally. If you’d like to join our mission, check out our jobs page here!