Asia is projected to account for nearly half of global fintech transactions by the end of the year, outpacing other regions, according to recent research.
A report from Singapore-based fintech UnaFinancial indicates that fintech transactions reached $16.8 trillion in 2024, representing an increase of $2.1 trillion compared to the previous year. This growth trajectory is expected to continue, with the Asian fintech market anticipated to reach $18.9 trillion by the end of 2025, translating to a year-on-year growth rate of 12.6%.
With the global fintech market expected to hit $40.1 trillion by year-end, Asia is projected to contribute 47.1% of the market’s transactions. A significant portion of this growth can be attributed to digital banking, which saw an increase of $684 billion, accounting for 32.9% of total growth.
Digital investment and wealth management have recorded the highest growth rates, with these services expanding at an average annual rate of 92.1% from 2010 to 2024. Analysts at UnaFinancial note that high smartphone adoption coupled with limited access to traditional banking has driven the rise of digital banking in the region.
Moreover, the development of super-apps in Asia—platforms that encompass digital wallets, buy now, pay later (BNPL) services, and e-commerce—has further accelerated fintech adoption. Governments in the region have also played a role by promoting digital payment platforms and cashless economies, resulting in an uptick in cross-border digital payments.
The report forecasts that the digital payments and transfers sector will be the primary engine for growth in Asia’s fintech market, accounting for 45% of the growth, surpassing the global average of 32%.