Top US fintech companies Stripe, Ripple,, and OpenSea.

Forbes has published its annual list of the top ten largest financial technology companies in the United States, providing insights into the dynamic landscape of the fintech industry. However, this year’s list includes a disclaimer due to the impact of the market downturn on fintech valuations.

The payment processing giant, Stripe, founded by Irish brothers Patrick and John Collison, topped the list despite experiencing a decline in valuation from $95 billion in 2021 to $50 billion in March 2023. The company has been ranked first since 2021. Stripe has played a crucial role in facilitating online business transactions, processing $817 billion in transactions last year. Some of its high-end clients include ChatGPT creator OpenAI, Microsoft, and Ford.

Following Stripe is Chime, which came second on the list. The financial services firm has received financing of $2.3 billion from venture capital firms such as Sequoia Capital and Menlo Ventures, one of the criteria for the rankings.

Ripple Ranks as the Third Largest Fintech Company in the US

Ripple, a blockchain payments infrastructure, came in third on the list, demonstrating resilience and innovation in the face of challenges.

The company is currently embroiled in one of the most extended legal battles in the history of crypto, with the United States regulator, the Securities and Exchange Commission (SEC), over its XRP token. It recorded a valuation of $15 billion. Ripple was founded in 2012 by Chris Larsen, the executive chairman, and Brad Garlinghouse. According to reports, Ripple raised an undisclosed amount of funds in January this year. Three years ago, Ripple earned a spot on the same Forbes list through fundraising and strategic partnerships, raising around $200 million in a Series C funding round during the year’s final quarter.

Ripple was followed by another crypto-focused company,, taking fourth position with a valuation of $14 billion. The firm operates as a digital asset trading platform, data hub, and wallet provider, enabling users to self-custody their crypto assets and access multiple services within a single platform. With a presence in over 200 countries and support for 25 languages, has gained recognition as a leading player in the crypto space.

OpenSea Faces Competition with Blur

OpenSea, a non-fungible token (NFT) marketplace, also made the list. The company ranked sixth on the Forbes list after Plaid, an American-based company that connects customers’ data to other financial applications. The NFT marketplace, launched in December 2017, is valued at around $13.3 billion. The valuation earned its founders, Devin Finzer and Alex Atallah, the title of NFT billionaires.

OpenSea had a highly successful year in 2022, generating $472 million in revenue through a 2.5% transaction fee applied to a substantial trading volume of $18.8 billion. However, the company now faces increasing competition from emerging contenders such as Blur, which surpassed OpenSea as the dominant marketplace in terms of NFT trading volume earlier this year. This shifting landscape presents OpenSea with the challenge of maintaining its position in the market amidst the rise of formidable rivals.

Meanwhile, other fintech companies such as Brex, GoodLeap, Bolt, and Alchemy made the Forbes list with $12.3 billion, $12 billion, $11 billion, and $10.2 billion, respectively.