The growing popularity of cryptocurrencies is revolutionising the financial industry . With the rise of bitcoin , cryptocurrencies and blockchain technology , there is no denying fintech is taking on an entirely new meaning .

The development of the crypto vertical has also been driven by a desire for decentralisation and trustless transactions , two features currently lacking from the legacy financial system , but mastering this new technology will not be smooth sailing .

Many threats are also associated with crypto , whether price volatility , security or exchange risk . Furthermore , there are worries about bubbles , money laundering , organised crime and terrorist financing .

Many governments are also moving toward creating their own cryptocurrencies in the form of central bank digital currencies , and regulations are also starting to come into play .

The bottom line is that cryptocurrencies offer a more liquid , borderless , fast and secure medium of exchange than traditional asset types . There are also risks associated with the technology . Given the speed of development , it will be interesting to see how these digital assets and their underlying blockchain technologies evolve in the coming years .

� TRIPACTIONS The travel and expense management fintech company continues to more than double in valuation each year , going from $ 1bn in 2019 to $ 2bn in 2020 , and finally to $ 7.25bn in 2021 .

� BLOCKFI The US-based crypto-asset trading and lending platform secured $ 850m ( USD ) of new funding in 2021 . It also exceeded more than 780 employees

� WISE The international money transfer company ’ s share price went from £ 1,140 GBP in September 2021 to £ 678 GBP in January 2022 , nearly halving in total valuation within five months

� SOFTBANK The multinational conglomerate company is facing a lawsuit from Credit Suisse concerning $ 440m USD owed to the bank from Softbank ’ s portfolio company Vision Fund