Could This Company Have a $1 Trillion Market Cap One Day?
The global financial services market will be worth an estimated $22 trillion in 2021. But despite the size of the overall banking business, many people around the world are actually underbanked. Fintech company Square (NYSE: SQ) aims to fix that with its ecosystem of banking solutions. As a disruptor in the financial industry, here is why Square could one day join the $1 trillion market cap club.
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The brick-and-mortar banks of the traditional lending system have a couple of problems. In many parts of the world, banking services are not accessible. According to Global Findex, approximately 30% of the world's population is unbanked, with many people living in emerging markets with poor demographics or limited infrastructure (branches, ATMs, and the like).
Source Fool.com