A joint report published by Boston Consulting Group, Bitget and Foresight Ventures predicts global crypto adoption could surge to 1 billion by 2030, with the US leading the adoption wave:
‘Plenty of Growth to Come’
Only 0.3 percent of US individual wealth is held in crypto, which is significantly lower compared to 25 percent held in equities. This suggests there’s still room to drive substantial crypto adoption and cryptocurrency exchanges will play a key role in that growth, according to the report:
Crypto exchanges play a key role in the Web3 ecosystem by providing access, liquidity, and infrastructure. With competition intensifying, crypto exchanges must adapt to the dynamic market situation and transform their strategy to beat the competition.
Crypto adoption report
One of the main drivers of crypto adoption was institutional companies hoarding massive amounts of crypto assets and offering crypto-related products between mid-2020 and early 2021. Since then, investment banks such as Morgan Stanley and JPMorgan have offered clients some form of crypto product/service, such as exposure to BTC funds and blockchain-based assets.
LatAm and APAC Offer High Market Potential
The report also outlines that Latin America and APAC are the two most attractive regions for crypto exchanges to expand on, given their high market potential and regulatory laws.
Australia ranked fifth in a recently published list of countries with the most crypto-friendly economies, while Germany and the US topped the table. Australia made the top five due to its proliferation of ICOs, exchanges and transaction volumes, and universities offering crypto and blockchain education courses.
The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.