PayPal tops the charts as the most downloaded FinTech app in the UK in Q1 2022

  • Blockchain & Crypto and Challenger Banking apps dominate the app store accounting for 60% of companies listed. Binance and Coinbase’s app downloads both peaked in Q2 2021 and have seen huge reductions of 57% and 72% respectively from Q2 2021 to Q1 2022. Crypto.com has defied this negative trend with its app downloads peaking in Q4 2021 at 654k. Crypto.com may be doing better as it offers several products, such as Visa cards, crypto pay at checkout, and several ways to earn crypto while Coinbase and Binance have a focus on education. Challenger Banking apps listed have been growing steadily at an average of 9.6% CAGR from Q1 2018.
  • PayPal, an online payments system, was the most downloaded FinTech app in the UK for Q1 2022. PayPal has consistently been the most downloaded FinTech app in the UK since 2017 and has amassed a total of 15.8m downloads in the country.

The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2022 FinTech Global

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