The cryptocurrency asset-management market might grow more than $9 Billion by 2030, according to a report by research provider Allied Market Research. As of 2020, the market stood at $670 million.
According to the 290-page report, the market will continue to grow at a compound annual growth rate of 30% from 2021 to 2030.
The report cited the COVID-19 as the main reason behind the accelerated growth in the market. It said that the pandemic fast-tracked the emergence of cloud-based asset management solutions amongst the financial institutions that offered security to their systems as well as offered “resilient, scalable, and agile crypto services”.
Crypto asset management platforms have made it easier for newcomers as well as experienced traders to manage their growing assets.
The reports expected the North American market to be the driving force behind the future growth of crypto assets management. On the other hand, the Asia-Pacific region might see booming development during the forecast period due to increasing mining companies in the region.