Fintech Ecosystem Development Corp. (NASDAQ: FEXD), through strategic mergers and acquisitions, is helping to accelerate the growth of the challenger bank market. “In turn, the company is making financial services affordable and accessible, particularly to individuals in emerging markets, who grossly lack this access compared to their counterparts in developed regions. This focus is helping FEXD carve out a significant market share and leave an indelible mark, even as the world gradually shifts to digital currency,” reads a recent article. “In a report published by Allied Market Research, it was noted that, in 2019, the global challenger bank market generated $20.4 billion. The report then estimated that, by 2027, this market would post over $471.0 billion in revenue, representing a CAGR of 48.1% over the forecast period.
In addition, the cryptocurrency market size is expected to post a CAGR of 15.81% between 2022 and 2027. Key factors that will facilitate this growth include the reduced cost associated with this solution and the level of accessibility and convenience that comes with it. In addition, changing consumer and business needs have facilitated this industry’s growth to the point of forcing legacy institutions to re-invent themselves and offer products that accommodate or address the new consumer demands. FEXD understands this shifting course, and through its strategic approach to expansion and growth, it is offering consumers what they want while playing a role in advancing the challenger bank and crypto markets.”
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About Fintech Ecosystem Development Corp.
Fintech Ecosystem Development is a special purpose acquisition company formed for the purpose of effecting one or more business combinations with an intent to focus on the financial technology sector. The company is sponsored by Revofast LLC and the management team led by CEO, president and founder Dr. Saiful Khandaker and a group of experienced fintech business and technology innovators. For more information about the company, please visit www.FintechEcosys.com.
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