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The world 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, in accordance with this study conducted.
The rising awareness about cryptocurrencies and their advantages, including 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 with all the market growth. Several market players have purchased development and research activities introducing advanced innovative exchange platforms.
As an illustration, in July 2022, Billium, an exchange operating out of Dubai, announced the launch of the new-age platform to handle decentralized transactions better and efficiently. It is integrated with a copy trading function named ‘Billium Copy Trading’, that can allow novice users to follow the trades with the professionals.
The growing popularity of cryptocurrencies led several financial services companies to collaborate with cryptocurrency exchanges to boost their service offerings. As an 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 by reviewing the crypto wallet partner Crypto.com. Such developments are required to propel industry growth on the forecast period.
The outbreak in the COVID-19 pandemic is predicted to experience a decisive role in driving the in the forecast period. Investors worldwide have shifted their interest toward cryptocurrencies because cryptocurrency segment is decentralized. Additionally, as it’s not governed by any central authority, it eliminates the political influence during troubled times, for example the pandemic.
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