In fintech, revenue is determined by the number of people using the app to make transactions, not the number of users onboarded. Average revenue per user (ARPU) may not be an indicator of profitability, but it is a good way to distinguish market leaders.
research by sort list We studied the revenue of financial apps to find out how much each app earns per user on average. The results show that cryptocurrency companies occupy the top two spots, followed by cash apps in third place on the list.
The image below shows the top financial apps with the highest revenue per user.
sauce: sort list
The number one cryptocurrency exchange, FTX Global, earns an average of $850.83 per user. The FTX Global app allows users to buy, sell and trade cryptocurrencies.We operate several trading platforms around the world, with a combined average daily trading volume of $10 billion.
FTX is registered in the Bahamas and Sam Bankman-FriedThe company was founded in 2019 and generates over $1.2 billion in revenue from a customer base of 1.2 million users. His American subsidiary, FTX US, operates at limited capacity due to unclear US regulations.
In second place is another multinational cryptocurrency exchange, Binance. Binance has a total revenue of $20 billion, earning approximately $689.66 per user from a customer base of over 29 million account holders.The company was created by Changpeng ‘CZ’ Zhao Registered in 2017 and registered in the Cayman Islands.
During the 2021 bull market, Binance $7.7 trillion of cryptocurrency exchange volume. Similar to FTX, the majority of Binance’s trading volume occurs outside the United States. However, it operates with limited capacity domestically under its subsidiary, Binance US.
In third place is Cash App, a mobile payment service owned by Block, which earns an average of $279.66 per user. Cash App allows users to send money to each other using a mobile app. It also supports bitcoin transactions. As of 2021, Cash App has generated over $12.3 billion in revenue for him, 81% of which is from Bitcoin transactions.
Operating in the US and UK, the company has over 44 million users. Cash App (formerly Square Cash) was started by his Twitter icon in 2013. Jack Dorsey with other co-founders.
Other notable players making the top 10 list include Robinhood, Chime and PayPal.
Robinhood, a mass-market investment app, ranked fourth. It has been so criticized that it collects about $113.25 per user.Order flowStrategy. America’s most popular neobank, Chime, is number seven, earning an average of $61.70 per user through exchange fees. And finally, digital payments pioneer PayPal is number nine, with users Earn an average of $59.52 per person. high transaction fees.
Interestingly, all the apps on the top 10 list are competing to make cryptocurrency services available to their customers. The exception is UK-based Sterling Bank.
sauce: sort list
This research methodology used data from the Business of Apps. app data Collects statistics of latest downloads, usage, users and demographic data. We then divided the app’s overall revenue by the number of users to calculate total revenue per user.
The realm of fintech apps is still expanding.according to Million Insight, the global financial app market is expected to reach $2 billion by 2028. Market growth is responsible for the growing demand for investment tracking apps from customers in emerging economies.
sauce: Million Insight