Market value of big fintech companies rises to $1 trillion, more than the largest banks

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There may be a changing of the guard underway in financials. 

The market caps of payment stocks like Visa and MasterCard have eclipsed the value of Wall Street’s biggest banks, even as their balance sheets remain significantly smaller in comparison. 

Square, Visa, PayPal and MasterCard are collectively worth $1.07 trillion, while the “big six” banks, which include JPMorgan, Bank of America, Wells Fargo, Citigroup, Morgan Stanley and Goldman Sachs are worth less than $900 billion in total. 

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