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The global cryptocurrency exchange platform market sizing is anticipated to reach USD 264.32 billion by 2030, growing with a CAGR of 27.8% from 2022 to 2030, in accordance with this study conducted.

Increasing awareness about cryptocurrencies in addition to their advantages, such as flexibility and security, is driving the industry’s growth. The strong emphasis on secure and decentralized networks as a result of the emergence of blockchain technology also bodes well with the market growth. Several market players have purchased research and development activities to introduce advanced innovative exchange platforms.

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

The growing interest in cryptocurrencies led several financial services companies to collaborate with cryptocurrency exchanges to boost their service offerings. For instance, in March 2021, Visa, Inc. announced to 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 required to propel industry growth on the forecast period.

The outbreak with the COVID-19 pandemic is anticipated to experience a decisive role in driving the industry in the forecast period. Investors worldwide have shifted their interest toward cryptocurrencies because cryptocurrency segment is decentralized. Additionally, as it is not controlled by any central authority, it eliminates the political influence during troubled times, including the pandemic.

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