GVR Report cover Cryptocurrency Payment Apps Market Size, Share & Trends Report

Cryptocurrency Payment Apps Market Size, Share & Trends Analysis Report By Cryptocurrency Type, By Payment Type, By Operating System, By End User, By Region, and Segment Forecasts, 2021 To 2028

  • Published Date: ---
  • Base Year for Estimate: ---
  • Report ID: GVR452092
  • Format: Electronic (PDF)
  • Historical Data: ---
  • Number of Pages: 0

Cryptocurrency payment apps allow businesses across the globe to accept payments in cryptocurrencies for the goods or services they provide to their customers. Cryptocurrency payment apps leverage blockchain technology to facilitate secure cross-border payments. Moreover, the charges associated with making payments in cryptocurrency through cryptocurrency payment apps tend to be lower than those associated with the conventional modes of payment, such as credit cards. Cryptocurrency payment systems can also be customized to deliver native dashboards and help businesses in tracking all the payments. Although Bitcoin is considered the most supported cryptocurrency used while making payments through cryptocurrency payment apps, some of these apps also support other cryptocurrencies, such as Litecoin, Bitcoin Cash, and Ether, among others. Cryptocurrency payment apps can also be integrated with point-of-sale systems, e-commerce platforms, billing & accounting solutions, and shopping cart software, among other platforms.

Cryptocurrency Payment Apps Market Segmentation

Segments

Details

Cryptocurrency Type

Bitcoin; Ethereum; Litecoin; DAI; Ripple; Others

Payment Type

In-store Payment; Online Payment

Operating System

Android; iOS; Others

End User

Individuals; Small & Medium Enterprises; Large Enterprises

Region

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

 

The global cryptocurrency payment apps market is expected to witness significant growth over the forecast period. The growth of the market can be attributed to the rising demand for easier and faster digital payments. The growing demand for low-cost digital currency payment systems across both small & medium enterprises and large enterprises is expected to contribute to the growth of the market. The continued increase in the number of organizations offering cryptocurrency payment options bodes well for the growth of the market over the forecast period.

The introduction of omnichannel options for cryptocurrency payments is expected to create new growth opportunities for the growth of the cryptocurrency payment apps market over the forecast period. The strong emphasis technology companies across the globe are putting on developing financial systems based on blockchain technology and increasing their digital assets to gain a competitive edge in the cryptocurrency payment apps market is anticipated to play a decisive role in driving the growth of the market over the forecast period.

Several digital currencies gained significant traction following the outbreak of the COVID-19 pandemic. Various banks particularly started accepting cryptocurrencies for the first time in the wake of the outbreak of the pandemic, which in turn, had a positive impact on the cryptocurrency payment apps market.

The growing preference for digital payments across the globe is prompting numerous venture capital firms to focus on investing in cryptocurrency payment app developers. For instance, in October 2021, Ramp Swaps Ltd announced raising USD 30 million in Series A funding for the development of its Software Development Kit (SDK) andApplication Programming Interface (API), which can potentially enable crypto purchasing in any application. Balderton Capital (UK) LLP led the funding round, while Maker, Firstminute Capital Seedcamp, and Fabric Ventures S.à r.l. participated in it.

The key players in the - market include Coinbase, BitPay, Apirone OÜ, SecuX Technology Inc., Circle Internet Financial Limited, Binance, CoinJar UK Limited, and Cryptopay Ltd., among others. These market players are pursuing various organic and inorganic growth strategies to strengthen their market position and increase their customer base. For instance, in October 2021, Coinbase introduced Coinbase Cloud to provide developers with an on-ramp to effectively build crypto services and applications, speed up development timelines, and allow teams to focus on improving their product capabilities instead of managing crypto infrastructure.

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