KPMG: More than 7% of fintech companies in Australia will go bankrupt, with blockchain and crypto industries accounting for 14%
KPMG's study of the Australian fintech landscape found that more than 7% of fintech companies headquartered in Australia will go bankrupt by 2024, with the blockchain and cryptocurrency markets being hit the hardest.
KPMG's "2024 Australian Fintech Landscape" report pointed out that the total number of independent fintech companies in Australia has been declining for the past two years, from 800 companies in 2022 to 767 active companies in all vertical business areas as of December 9. Of the 60 Australian fintech companies that will close in 2024, blockchain and cryptocurrency companies account for 14%.
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