Market Snapshot:
To hold and secure cryptocurrency assets, cryptocurrency custody software is used. To restrict access to digital currency assets and maintain their privacy while in long-term storage, these solutions use private key encryption. Many bitcoin custody solutions also make it easier for individuals or organizations to buy and sell coins. Furthermore, these solutions can help to centralize and streamline cryptocurrency transactions and operations. Organizations implement them to streamline asset management and storage while maintaining asset security and privacy. Cryptocurrency custody solutions are similar to bitcoin wallets in that they hold cryptocurrency, as well as cryptocurrency exchanges in that they may be used to buy and sell digital currency assets. Custody solutions, on the other hand, are distinct in that they consolidate transaction and storage procedures while permitting storage on an institutional scale.
Highlights from Cryptocurrency Custody Software Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The key Players profiled in the report are Ledger (France), Coinbase Custody (United States), BlockFi (United States), Fidelity Digital Assets (United States), Anchorage (United States), Koinly (United kingdom), Poolin Wallet (China), itBit Custody (United States), Kingdom Trust (United States) and Swiss Crypto Vault (Switzerland). Additionally, other players that are part of this comprehensive study are Velona (Israel), Block.io (United States) and Chainlink (Islands).
Geographic Breakdown and Segment Analysis
The Global Cryptocurrency Custody Software market presents a comprehensive analysis of the Cryptocurrency Custody Software market by product type (Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Tether (USDT), Solana (SOL) and Other), by end-user/application (Personal Use, Large Enterprises, SMEs, Financial Institution and Nonprofit Organization), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Cryptocurrency Custody Software industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Cryptocurrency Custody Software market
Analyst at AMA have segmented the market study of Global Cryptocurrency Custody Software market by Type, Application and Region.
Influencing Trend:
Integration Of Advance Technology Such As Artificial Intelligence And Internet Of Things (IoT)
Market Growth Drivers:
The Demand For Cryptocurrency Custody Software Will Increase As Cryptocurrency Becomes More Widely Accepted In Many Businesses.
Challenges:
Threat Of Internet Security And Price Instability
Restraints:
High Risk Associated To Cyber-attacks And Malware Attacks and Lack Of Government Support
Opportunities:
Increasing Demand For Cryptocurrency Custody Software From Develop Countries
Market Developments Activities:
On 30 November 2021, Coinbase is continuing its acquisition spree. The U.S.-based crypto exchange operator is now set to acquire Unbound Security, an Israeli crypto custody infrastructure firm specializing in multiparty computation (MPC) technology.
On 9 December 2021, Ledger is the latest crypto company working on a debit card that connects directly with a crypto wallet. The company unveiled at its Ledger Op3n conference plans to launch its own debit card called the Crypto Life card.
Regulatory Insights:
On 20 May 2021, the U.S. Department of the Treasury announced a proposal that would require taxpayers to report any cryptocurrency transaction of and above USD 10,000 to the IRS.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Target Audience
Cryptocurrency Custody Software Developer, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others