Cryptocurrency Exchange Platform Industry Specification, Share & Developments Research
The international cryptocurrency exchange platform market size is supposed to reach USD 264.32 billion by 2030, growing with a CAGR of 27.8% from 2022 to 2030, according to these studies conducted.
The rising awareness about cryptocurrencies and their advantages, like flexibility and security, is driving the industry's growth. The strong emphasis on secure and decentralized networks because of the emergence of blockchain technology also bodes well together with the market growth. Several market players have purchased research and development activities introducing advanced innovative exchange platforms.As an example, in July 2022, Billium, an exchange situated in Dubai, announced the launch of an new-age platform to handle decentralized transactions more effectively and efficiently. It's integrated having a copy trading function named 'Billium Copy Trading', that may allow novice users to check out the trades in the professionals.
The growing popularity of cryptocurrencies led several financial services companies to collaborate with cryptocurrency exchanges to improve their service offerings. As an illustration, in March 2021, Visa, Inc. announced to stay transactions in U.S. Dollar Coin (USDC) on Ethereum with cryptocurrency partners.
In March 2021, Visa, Inc. accepted its first settlement in USDC from the crypto wallet partner Crypto.com. Such developments are required to propel industry growth within the forecast period.
The outbreak in the COVID-19 pandemic is anticipated to try out a decisive role in driving the in the forecast period. Investors worldwide have shifted their interest toward cryptocurrencies as the cryptocurrency segment is decentralized. Furthermore, because it is not controlled by any central authority, it eliminates the political influence during troubled times, like the pandemic.
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