As stated in our extensive report; the Global Cryptocurrency Payment Apps Market accounted for USD 98.4 Million in the year 2021.
The major factor driving the market growth is the rise in the need for the transit agency in financial payment systems and operational efficiency, the increase in remittances demand in emerging nations and the mounting demand for low-cost digital currency payment systems across both small & medium enterprises and large enterprises.
Additionally, rising demand for easier and faster digital payments fueling the growth of the market. However, a lack of awareness of the high implementation of cryptocurrency in emerging nations may act as restrain and hamper the market growth. Furthermore, the rise in demand for cryptocurrency among financial institutions, banks, and untapped potential in developing economies are likely to provide lucrative opportunities for the expansion of the market during the forecast period.
In recent years, cryptocurrency especially, Bitcoin has established its value, now bragging 14 million n worth of Bitcoin in circulation. Investors speculating on the future opportunities of this new technology which is driving most of the market capitalization currently, and this is expected to remain the case until some measure of market acceptance and price stability is achieved. Furthermore, the continued increase in the number of organizations offering cryptocurrency payment optionsis further propelling the market growth over the forecast period.
In addition, the introduction of Omni channel options for cryptocurrency payments is anticipated to build new growth opportunities for the market, ultimately, fueling the market growth over the forecast period. Also, the preference for digital payments across the globe is compelling several venture capital firms to focus on investing in cryptocurrency payment app developers. Thus, increasing funding is further propelling the market growth over the forecast period.
North Americaholds the major share in the market. The market growth is attributed to factors such as increasing investment, and the presence of major players in the region.
Some of the key players in the Global Cryptocurrency Payment AppsMarketinclude-Coinbase, BitPay, Coinomi, Paytomat, Apirone OU, SecuX Technology Inc., Circle Internet Financial Limited, and others.