The global crypto asset management market was valued at USD 94.55 Mn in 2018 and is expected to reach USD 325.50 Mn by 2026, growing at a CAGR of 17.1% during the forecast period.
Crypto assets are a combination of new payment systems with new currencies that include assets such as security tokens, utility tokens, and payment (or exchange) tokens, which are not issued by central banks. It offers users of all competence levels a simple and more centralized location to handle their investments and a clearer way of entering the ecosystem. It also helps in streamlining the process by assisting users to consolidate their diverse holdings while concurrently providing enhanced portfolio management tools. The rapid proliferation of blockchain technology is one of the major factors to drive the growth of the crypto asset management market.
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Apart from these, rising dependency on cryptocurrency and developments in the cryptocurrency market are some major driving factors for the global market. The demand for crypto asset management is also increasing owing to rising financial security offered by crypto assets and other benefits such as time and cost-efficient asset transfer, effortless international trade by cutting complications over currency exchange fluctuations, and confidential transactions with a strong security framework. Further, the rapid pace of digitalization has made several industries incorporate digital framework and processes, which are going to drive the shift towards crypto asset management during the forecast period.
Additionally, companies are developing advanced crypto asset management solutions for providing enhanced financial safety and security on premises. For instance, in October 2018, Gemini Trust Company LLC has entered a partnership with Omniex, a provider of institutional crypto asset trading and investment platform, to deliver a high-performance trading experience, connectivity, and enhanced features for institutional investors with the help of Equinix’s low-latency NY5 data center.
However, high costs associated with crypto assets infrastructure and lack of supportive and well-structured government regulations for crypto assets in some countries are expected to impede the growth of the crypto asset management market.
In June 2019, Metaco SA, AlgoTrader and Cysec have entered a partnership to provide a Swiss-made crypto asset management ecosystem for financial organizations to control the whole life cycle of their crypto assets, from consistent storage and management to mechanized trading and implementation.