The worldwide cryptocurrency exchange platform market dimension is supposed to reach USD 264.32 billion by 2030, growing in a CAGR of 27.8% from 2022 to 2030, as outlined by these studies conducted.

The increasing awareness about cryptocurrencies in addition to 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 together with the market growth. Several market players have purchased development and research activities to introduce advanced innovative exchange platforms.

For example, in July 2022, Billium, an exchange situated in Dubai, announced the launch of an new-age platform to carry out decentralized transactions much better and efficiently. It can be integrated using a copy trading function named ‘Billium Copy Trading’, that may allow novice users to follow along with the trades with the professionals.

The growing rise in popularity of cryptocurrencies led several financial services companies to collaborate with cryptocurrency exchanges to improve their service offerings. As an illustration, 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 expected to propel industry growth on the forecast period.

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

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