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The worldwide cryptocurrency exchange platform market dimensions are expected to reach USD 264.32 billion by 2030, growing at a CAGR of 27.8% from 2022 to 2030, based on this study conducted.

Increasing awareness about cryptocurrencies and their advantages, for example flexibility and security, is driving the industry’s growth. The strong focus on secure and decentralized networks due to the emergence of blockchain technology also bodes well using the market growth. Several market players have committed to research and development activities show them advanced innovative exchange platforms.

As an example, in July 2022, Billium, an exchange located in Dubai, announced the launch of the new-age platform to carry out decentralized transactions more efficiently and efficiently. It is integrated with a copy trading function named ‘Billium Copy Trading’, that can allow novice users to check out the trades of the professionals.

The growing popularity of cryptocurrencies led several financial services companies to collaborate with cryptocurrency exchanges to further improve their service offerings. For example, 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 looking at the crypto wallet partner Crypto.com. Such developments are expected to propel industry growth within the forecast period.

The outbreak of the COVID-19 pandemic is required to play a decisive role in driving the industry within the forecast period. Investors worldwide have shifted their interest toward cryptocurrencies since 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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