Cryptocurrency Exchange Platform Industry Specification, Share & Developments Research
The international cryptocurrency exchange platform market sizing is expected to reach USD 264.32 billion by 2030, growing in a CAGR of 27.8% from 2022 to 2030, as outlined by this research conducted.
Ever rising awareness about cryptocurrencies along with their advantages, such as flexibility and security, is driving the industry's growth. The strong focus on secure and decentralized networks as a result of the emergence of blockchain technology also bodes well with all the market growth. Several market players have committed to development and research activities flying insects advanced innovative exchange platforms.
For instance, in July 2022, Billium, an exchange based in Dubai, announced the launch of an new-age platform to carry out decentralized transactions more efficiently and efficiently. It is integrated using a copy trading function named 'Billium Copy Trading', that may allow novice users to follow the trades from the professionals.
The growing rise in popularity of cryptocurrencies led several financial services companies to collaborate with cryptocurrency exchanges to further improve their service offerings. As an example, in March 2021, Visa, Inc. announced to settle transactions in U.S. Dollar Coin (USDC) on Ethereum with cryptocurrency partners.
In March 2021, Visa, Inc. accepted its first settlement in USDC by reviewing the crypto wallet partner Crypto.com. Such developments are hoped for to propel industry growth over the forecast period.
The outbreak with the COVID-19 pandemic is required to experience a decisive role in driving the industry in the forecast period. Investors worldwide have shifted their interest toward cryptocurrencies because the cryptocurrency segment is decentralized. In addition, since it is not controlled by any central authority, it eliminates the political influence during troubled times, such as the pandemic.
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