ESMA, the European Securities and Markets Organization, has prepared a report on licensing for fintech companies. The document is based on the results of surveys conducted in the EU bodies responsible for the financial industry and fintech technology. ESMA specialists prepared information on the number, features, business models of fintech business in the EU, as well as their compliance with financial rules, etc.



The study examined companies operating in the following areas:

  • Clearing;
  • Fundraising;
  • Trust capital management;
  • Financial market support.

From the ESMA report, it follows that the lion's share of the market belongs to companies that help investments grow - 70%. Online services occupied 43.9% of the market. Organizations offering solutions in the field of cloud storage and computing - 22.9%, developers of programming interfaces - 17.3%. Things are worse with fintech clearing and settlement companies. They are less than 1%.

Based on the results of surveys and analysis of the information received, the report's authors formulated several conclusions:

  • Eurozone legislation regarding fintech companies doesn’t need to be finalized. It is necessary to pay attention only to crypto assets;
  • Regulators in different countries don’t have a single opinion regarding the definition of fintech organizations, therefore the same project in different jurisdictions may or may not belong to the fintech industry;
  • The role of sandboxes for projects of this kind remains very important. Thanks to their presence, it is easier for new companies to understand the specifics of the legislation of certain countries.

The only aspect that worries ESMA is crypto assets. According to experts, both EU countries and the Eurozone as a whole need to urgently solve the problems of ICO and DLT regulation.