The global crypto trading platform market was worth US$ 36.5 Billion in the year 2022 and is expected to reach US$ 135.7 Billion by the year 2032 at a CAGR of 14% between 2022 and 2032.
Digital assets like NFTs (Non-Fungible Tokens) and cryptocurrencies are getting popular day after day. These cryptocurrencies make use of blockchain technology to render efficient transactions and decentralization.
Blockchain technology is reported to have offered secure, fast, reliable, and transparent transactions. As such, companies are handsomely investing in blockchain and entering into collaborations to deliver quality services. On these grounds, KuCoin, in July 2022, announced partnering with Coinrule Ltd. (known as a trading bot for the cryptocurrency platforms) to provide automated trading to customers.
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Cryptocurrency is expected to act as an alternative to fiat currencies like Bolivar, Rial, and the other government-issued fiats in these regions. At the same time, lack of uniform standard for digital money and exchange platforms is expected to restrain the crypto trading platform market.
Future Market Insights has walked through these facets with insights in its latest market study entitled ‘Crypto Trading Platform Market’. It has its team of analysts and consultants to execute using a bottom-up approach in its primary, secondary, and tertiary modes of research.
Key Takeaways from the Crypto Trading Platform Market Report:
- North America holds the largest market share with the US being subject to treating bitcoins as one of the media of exchange for tax purposes instead of currency. It needs to be noted that the government hasn’t regulated this fact as yet, but several developed countries are still focusing on the usage of digital money. Consumers as well as retailers are accepting digital cash. Besides, bitcoin mining is another factor driving the crypto trading platform market. NYDIG, in June 2021, entered into a partnership with NCR Corp. to provide cryptocurrencies to 650 banks and credit unions.
- The Asia-Pacific is expected to witness speedy growth in the crypto trading platform market in the near future. Taiwan and Japan are to lead from the front. Coming to the inorganic mode of development, TaoTao and Z Corporation, Inc., in January 2020, had announced collaborating with each other to expand the crypto market by confirmation of compliance in the Japanese market. Plus, the Securities Commission of Malaysia has legally authorized digital currency operators to operate in the country in spite of the lockdown.
- MEA is also seen showcasing approaches regarding the adoption of cryptocurrencies. TripleA states that as of now 4.2 Million South Africans own bitcoin.
- Coming to LATAM, the Brazilian Senate, in February 2022, did take the very first step regarding the regulation of the cryptocurrency sector. This was when the Economic Affairs Committee approved a measure establishing the regulations for digital currency funds.
Competitive Platform
- FTX, in June 2022, agreed to acquire Bitvo (a trading platform based out of Alberta). Bitvo team is slated to be incorporated into the global workforce of FTX.
- Kraken, in January 2021, announced the release of its novel Kraken mobile app as a response to growing demand from clients seeking highly secure, simple-to-use solution for investing in cryptocurrency.
- Visa Inc., in March 2021, did process crypto payments on a direct basis on Etherum Blockchain. The basic aim is that introduce it in the form of a novel service payment.
- com, in January 2020, completed the acquisition of WazirX Bitcoin exchange based out of Mumbai (India). The company is, as such, focusing on the expansion of its business portfolio all across India. It also holds the distinction of patenting the Fiat Gateway platform. The latter’s P2P (peer-to-peer) engine would get integrated to facilitate digital currency trading of the former by buying USDT or Tether.
What does the Report state?
- The research study is based on platform (web-based crypto trading platform and mobile crypto trading platform app), and by cryptocurrency (Bitcoin, Ethereum, Tether, USD Coin, Binance Coin, and likewise).
- With multiple advancements pertaining to digital space, the global crypto trading platform market is expected to grow on an astounding note in the forecast period.
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Crypto Trading Platform Market Segmentation:
By Platform:
- Web-based Crypto Trading Platform
- Mobile Crypto Trading Platform App
By Cryptocurrency:
- Bitcoin
- Ethereum
- Tether
- USD Coin
- Binance Coin
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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