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  • Breen Frank posted an update 1 year, 3 months ago

    The worldwide cryptocurrency exchange platform market size is 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.

    Increasing awareness about cryptocurrencies as well as their advantages, for example flexibility and security, is driving the industry’s growth. The strong increased exposure of secure and decentralized networks due to the emergence of blockchain technology also bodes well together with the market growth. Several market players have invested in 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 the new-age platform to carry out decentralized transactions much better and efficiently. It is integrated having a copy trading function named ‘Billium Copy Trading’, that will 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 enhance their service offerings. As an illustration, in March 2021, Visa, Inc. announced to be in 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 in the forecast period.

    The outbreak in the COVID-19 pandemic is required to learn 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. Moreover, as it’s not governed by any central authority, it eliminates the political influence during troubled times, including the pandemic.

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