Key takeaways:

  • The fintech industry is one of the world’s biggest industries. Its steady growth opens many opportunities for fintech business owners.
  • There is a rise in the demand for cryptocurrency translation as more people across the globe own crypto wallets. 
  • Translating cryptocurrency helps fintech companies improve user experience, which eventually jumpstarts brand awareness.
  • Translation in the fintech industry covers both business owners and customers.
  • Blockchain is one of the most important recent innovations in finance, revolutionizing technology by underpinning cryptocurrency.
  • Blockchain technology also revolutionizes the translation industry with its design that is resistant to data modification.
  • Fintech blockchain translation ensures security for all competing fintech companies and their customers.
  • Professional fintech translation services help fintech companies expand internationally without compromising accuracy, efficiency, and data protection.

Table of contents

  • The Fintech Industry
  • Blockchain Translation Industry
  • Cryptocurrency Translation and Its Benefits
  • CCCI – Professional Fintech Translation Services

“Fintech” or Financial Technology is a new tech that aims to improve and automate financial services. It focuses on customers’ needs while helping companies and business owners manage their financial operations. It sounds like a big industry, right? Especially when it involves finance. So without a doubt, we need to highlight the importance of cryptocurrency translation.

This article will dive deeper into the fintech industry, blockchain, and cryptocurrency. For a fintech company like you that aims to expand your business by providing the best services to your customers across the globe, you have to see the impact of fintech translation and all your available options. Are you ready to dive in?

The Fintech Industry

The word “fintech” emerged in the 21st century, initially applied to the technology engaged at the back-end systems of established financial institutions. Eventually, it shifted to more consumer-oriented services and became more consumer-oriented. Fintech is now involved in different sectors and industries. We have retail banking, fundraising and nonprofit, education, investment management, and more!

The fintech industry is HUGE. In 2019, fintech reached $55.3 billion in investments, with China contributing a total of $25.5 billion. The global fintech investment reached 1,221 deals or a total of $26.5 billion in the first half of 2020, with the pandemic as a significant factor in the completed deals. According to the Business Research Company in 2020, the global financial services market is projected to reach $26.5 trillion by 2022 and is expected to grow with a compound annual growth rate of 23.58% from 2021 to 2025.

Yes, the fintech industry is enormous, and its growth will not stop anytime soon. The industry now knows numerous big and valuable companies. Of course, it is impossible not to start with PayPal, which has over $300 billion in valuation. Ant Financial, founded in 2014, is an affiliate firm of China’s Alibaba Group.

Stripe also joins the list of the most valuable fintech companies worldwide. Along with Adyen, Coinbase, Square, and other big fintech companies, they keep the fintech industry growing and the customers’ lives easier and more convenient. Now, we live in a world where “cryptocurrency” exists.

Cryptocurrency and its Advantages to the Global Audience

Cryptocurrency has been a subject of debate in society for a long time now. And since it has become even more popular than it was first introduced in 2009, more and more people find it very convenient. According to CoinMarketCap, Bitcoin is the world’s first and most widely adopted cryptocurrency. It had a share of 62.42% in January 2021, with Bitcoin miners earning over $33.7 million.

Note: Cryptocurrency was invented in 2008 by Satoshi Nakamoto, a person who claimed to be a thirty-six-year-old Japanese man. On January 3, 2009, Nakamoto created a new currency called bitcoin and announced it on the Internet. In 2021, bitcoin was worth more than $1 trillion.

Cryptocurrency provides financial flexibility and sparks many economic interests. It allows people to invest capital safely and offers equal opportunities for everyone. Cryptocurrencies operate in a decentralized system, empowering users and providing freedom in transactions. Moreover, the market exists without needing any actual infrastructure.

As more people rely on crypto wallets, cryptocurrency translation becomes in-demand. Generally, fintech translation poses many concerns for fintech companies who want to make their services available to a broader audience. Is it accurate? Is it efficient? And most importantly… Is it secure? This is where fintech blockchain translation comes in.

Blockchain Translation Industry

What is the blockchain technology best known as? It is the tech that underpins cryptocurrencies. Blockchain is a growing list of records, with blocks containing a cryptographic hash of the previous block, along with a timestamp and transaction data. A blockchain is resistant to modification of the data. Its design revolutionizes fintech and helps the translation industry. How?

Blockchain creates a digital ledger, protects against fraud, removes third parties from transactions, democratizes money management. That is for the fintech industry. For the translation industry, it establishes a more efficient system. It provides an encrypted, distributed database—all these in a safe environment with no central management.

A blockchain translation system has each translator, proofreader, editor, or agency’s metadata about themselves in the blockchain. These data are encrypted using the public key provided by the customer. Only the customer can access it. This, alone, already resolves the fintech companies’ concern on security.

Accuracy and efficiency lie in the hands of cryptocurrency and fintech-savvy translators. Overall, blockchain in the translation industry is a tremendous advantage to fintech companies, allowing them to use the same platform without worrying about revealing customer and translator names. The translated texts are never exposed as well. Blockchain provides tools that allow companies and customers to take responsibility for the use of data and to simplify business processes.