“Coinbase, Inc. (USA), Gemini Trust Company, LLC. (USA), Crypto Finance AG (Germany), Vo1t Ltd (UK), Bakkt, LLC (USA), BitGo, Inc (USA), Ledger SA (France), METACO SA (Switzerland), Iconomi Ltd. (UK), EXODUS MOVEMENT, INC. (USA), Xapo, Inc. (Switzerland), Paxos Trust Company , LLC (USA), Koine Money Ltd (England), Amberdata, Inc. (USA).
Crypto Asset Management Market by Solution (Custodian and Wallets), Application Type (Web-Based and Mobile), End User (Individuals and Enterprises (Institutions (BFSI, Hedge Funds), Retail and e-Commerce) ) and region – global forecast to 2026
The global crypto asset management market is expected to grow from USD 0.4 billion in 2021 to USD 1.2 billion by 2026, growing at a compound annual growth rate (CAGR) of 21.5% during the period forecast. Increase in venture capital funding and increasing investments in crypto asset management technology would drive the growth of the market.
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By end-user, the individual user is expected to lead the Crypto Asset Management market over the forecast period
With an increase in the number of cryptocurrency users across the world, the potential customer base for crypto asset management solutions has also increased. Individual users use cell phones primarily for entertainment and utility purposes. Several utility mobile apps help the individual user to organize and manage daily tasks. Some of these applications require access to certain personal user data. With the advent of social media, a large amount of sensitive personal data is also stored on these mobile devices. With a significant amount of sensitive data stored online, many individual users opt for crypto asset management solutions to protect their data, while a large number of individuals still do not opt for premium security software. However, with the growing awareness of potential cyber threats, the adoption of crypto asset management solutions is increasing in the individual end-user segment.
Based on the company vertical, institutions are segmenting to lead the crypto asset management market over the forecast period
Institutional clients are the main contributors to the growth of the crypto asset management market. Financial firms are adopting crypto asset management solutions to protect their crypto assets and streamline exchange and trading processes. In recent years, the custodial solution has gained more attention among major financial firms, especially hedge funds and investment funds. The crypto asset management platform offers custody of cryptocurrency and processes transactions with greater security. The platform has the ability to manage multiple accounts without compromising security. According to wallet service providers, cryptocurrency is attracting the attention of financial companies, businesses, and government authorities.
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Key and innovative vendors in the Crypto Asset Management market include Coinbase, Inc. (USA), Gemini Trust Company, LLC. (USA), Crypto Finance AG (Germany), Vo1t Ltd (UK), Bakkt, LLC (USA), BitGo, Inc. (USA), Ledger SA (France), METACO SA (Switzerland ), Iconomi Ltd. (UK) , EXODUS MOVEMENT, INC. (United States), Xapo, Inc. (Switzerland), Paxos Trust Company, LLC. (USA), Koine Money Ltd (England), Amberdata, Inc. (USA), Tradeium Capital, LLC. (Germany), Opus Labs CVBA (Belgium), Kryptograph Inc (UK) and others.
These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their presence in the crypto asset management market. Partnerships, agreements and collaborations, new product launches were the strategies most adopted by the major players from 2019 to 2021 to innovate their offers and expand their customer base.
Coinbase was founded in 2012 and is headquartered in San Francisco, USA. It provides an online platform for digital cryptocurrency trading between merchants, consumers, and institutions. Its products and services include Asset Management, Consumer, Commerce, Custody, Earn.com, Paradex, Prime, Pro and Wallet. For institutional clients, it provides digital asset custody solutions offering services such as segregated cold storage, financial and security controls, dedicated coverage, service level agreements (SLAs) on funds transfers , and upcoming insurance and service multi-user accounts. The company’s main investors are Andreessen Horowitz, USV, DFJ Growth, MUFG, BBVA and USAA. The company aims to form an open financial system for every individual. The open financial system is not governed by any institution or body. Currently, the company has a presence in North America, Europe, APAC and MEA.
Coinbase offers: Toshi (Hot Wallet), Custody Services and Coinbase Prime.
Gemini is a trust regulated by the New York State Department of Financial Services (NYSDFS). It was founded in 2014 and is headquartered in New York, USA. It provides digital asset exchange and custody services. It also provides trading of cryptocurrencies, such as Bitcoin and Ethereum, by converting them into the fiat currency, the US dollar. For trading, it offers 15 distinct pairs. These pairs are made up of the combination of cryptocurrencies and the US dollar. Gemini’s custodial services include custodial account, segregated custodial account, client funds and regulatory controls. The company offers trading of digital assets in the sandbox environment, in which auctions are held daily.
Gemini offers: Custody and wallet services
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