Blockchain in Trade Finance Matures as Market Rockets Toward $34.6B, Sparking Major Integrations and Investor Interest

The market for blockchain in trade and supply-chain finance is rapidly maturing, moving beyond the pilot phase and into full-scale deployment, attracting significant institutional capital and triggering major technology integrations. A new report from PwC projects the market will expand from US$1.8 billion in 2024 to a staggering US$34.6 billion by 2034, signaling a new era of growth and adoption. According to the report, Gulf Cooperation Council (GCC) nations are among those leading the charge, deploying advanced digital technologies like blockchain to cement their positions as global trade hubs.

 
This market maturation is evidenced by significant industry partnerships. On February 24, financial software giant Finastra announced a collaboration with CargoX to integrate its blockchain-based electronic trade document (eTD) platform directly into Finastra’s Trade Innovation solution. This move is designed to accelerate the digitization of trade finance by allowing banks and their clients to securely manage over 65 types of trade documents, directly supporting the Digital Container Shipping Association’s (DCSA) goal of achieving 100% electronic bills of lading (eBLs) by 2030. Peter Kern, VP Commercial at CargoX, stated the goal is to establish “electronic trade documents as a reliable foundation for international trade.”

 
The financial world is taking notice, with major institutions and public markets now actively investing in the space. A recent report from Citi highlights how technology is fundamentally reengineering trade finance, with a pilot of blockchain-based conditional payments demonstrating the potential for “near 24/7 digital execution and automated settlement.” Underscoring this trend, recent IPO filings show continued investor appetite, as reported by VitalLaw.com. A new Special Purpose Acquisition Company (SPAC), Forefront Tech Holdings Acquisition, has filed for an IPO with the explicit intention of acquiring companies in sectors that include “blockchain-enabled AI” and “digital trade identities,” a clear signal that public capital markets are now targeting the next generation of digital trade solutions.