Bitget and BCG foresee Crypto Exchanges to play a key role in enabling Web3 transformation
22 Jul, 2022, 09:13 ET
Most significant headroom expected in emerging economies
SINGAPORE, July 22, 2022 /PRNewswire/ -- Leading global derivatives exchange - Bitget, is pleased to release a joint report with Boston Consulting Group (BCG) and Foresight Ventures. Bitget's first in-depth industrial report 'What Does the Future Hold for Crypto Exchanges', dives into the competitive landscape of crypto exchanges, unveils substantial development trends in crypto trading markets, its role on enabling the Web3 economy and shares insights on how to navigate the crypto space during a bear market.
This report offers an intensive study on the developing environment for crypto exchanges from different lenses, such as a thriving derivative market, momentum of rapid trading volume growth, regulation impacts and innovative applications. The report also brings a forward-looking view on the end-state competitive landscape, as well as perspectives on growth avenues for crypto exchanges.
Commenting on the report, Managing Director of Bitget, Gracy Chen said, "This report shines light on the recent developments of the crypto market, with keen insights revolving around crypto exchanges and the future paths of winning operations. We continue to witness tremendous enthusiasm from investors despite such market conditions. According to the findings of the report, crypto trading volume still has large headroom to grow, while LATAM and APAC remain the two most attractive regions for global players to expand into, due to higher market potential and progressive crypto regulations. This is the same view echoing our developing strategy, as these two regions are among those of our primary focus. Meanwhile, we will continue to enhance our products with creativity and innovation, boost adoption of crypto trading and social trading, with the vision to increase financial independence for the rest of the world."
Managing Director and Senior Partner of BCG, Tjun Tang said, "Despite the recent market disruption, we believe the market has opportunities for growth ahead. 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. In this report, we offer perspectives on the future of Web3 adoption, emerging high potential markets, and the crypto exchange competitive landscape and future end-state. We highlight unique growth opportunities that crypto exchanges can explore: strengthening and scaling core offerings; expanding into adjacent products and offerings; developing innovative business models; and leading the way in bringing Web3 solutions to traditional industries."
For more information on the report, please refer to the executive summary below or view the full report here. (https://bit.ly/3RSBDDC).
Established in 2018, Bitget is one of the world's leading cryptocurrency exchanges with a core focus on social trading. Currently serving over two million users in more than 50 countries around the world, Bitget accelerated its mission to promote decentralised finance with a 600-strong workforce representing over 38 nationalities.
About Boston Consulting Group
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we help clients with total transformation—inspiring complex change, enabling organisations to grow, building competitive advantage, and driving bottom-line impact.
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