KPMG's study of the Australian fintech landscape found that more than 7% of Australia-based fintech companies will fail in 2024, with the blockchain and cryptocurrency markets hardest hit. KPMG's Fintech Landscape Australia 2024 report states that the total number of independent fintech companies in Australia has been declining for two years, having decreased from 800 companies in 2022 to 767 active companies across all business verticals as of December 9. Of the 60 Australian fintech companies to close in 2024, companies in the blockchain and crypto sectors accounted for 14%.