Cryptocurrency Payment Apps Market
Cryptocurrency Payment Apps Market Size, Share & Trends Analysis Report by Cryptocurrency Type (Bitcoin, Ethereum, Litecoin, DAI, Ripple, and Others), by Payment Type (In-Store Payment and Online Payment), and by End-User (Individuals and Businesses) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
Cryptocurrency payment apps market is anticipated to grow at a significant CAGR of 15.7% during the forecast period. The growing adoption of cryptocurrencies across the globe is the key driver for the Cryptocurrency Payment Apps market expansion. People are encouraged to use cryptocurrency payment platforms owing to various advantages such as the decentralized nature of the blockchain, which eliminates mediators like banks from the payment processing system, accelerates the transaction speed and reduces the processing time and others. According to World Economic Forum data of 2021, Cryptocurrency use is on the rise, with 33% of Nigerians either using or owning cryptocurrency. Nigerians also often use their phones to send money to each other or to pay in shops. Recently, businesses in the country have been adding crypto plugins to their phone payment options, adding another way in which Nigerians can use cryptocurrency in their everyday lives. Furthermore, in El Salvador country has made Bitcoin a legal tender in the country through the Bitcoin Law, which was passed on 8 June 2021 and became the first country in the world to make it legal tender. The adoption of Bitcoin would make it easier for Salvadorans living abroad to send remittances to their relatives in the country. The use of bitcoin would also make digital transactions more accessible to underbanked people in El Salvador. Hence these factors are boosting the demand for Cryptocurrency Payment Apps market.
Segmental Outlook
The global cryptocurrency payment apps market is segmented based on cryptocurrency type, payment type, and end-user. Based on cryptocurrency type, the market is segmented into Bitcoin, Ethereum, Litecoin, DAI, Ripple, and others. Based on the payment type, the market is sub-segmented into the in-store payment and online payment. Based on the end-user, the market is sub-segmented into individuals and businesses. The above mentioned segments can be customized as per the requirements.
Among the type segment, the Bitcoin sub-segment is anticipated to grow at the fastest rate during the forecast period. The primary factor attributable to the segmental growth includes the various benefits such as bitcoin is decentralized, censorship resistant, fast and easy to use, no risk of charge-backs, provides anonymity. It also guarantees uncompromised security of the payment systems owing to the proof-of-work mechanism ensured by the users of the decentralized bitcoin network.
Regional Outlooks
The global cryptocurrency payment apps market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. The North America is anticipated to grow at the fastest rate duing the forecast period. Owing to the presence of several prominent players in the region stimulates market growth. These market players are adopting various strategies, such as new product launches, and strategic partnerships, among others, to enhance their offerings. For instance, in January 2021, Coinbase Global, Inc., acquired blockchain infrastructure platform, Bison Trails. The acquisition will enable Bison Trails to accelerate its mission to provide easy-to-use blockchain infrastructure that strengthens the entire crypto ecosystem.
Global Cryptocurrency Payment Apps Market Growth, by Region 2022-2028
The Asia-Pacific Region is Expected to Hold the Considerable Share in the Global Cryptocurrency Payment Apps Market
The Asia-Pacific region is expected to hold the considerable share in the global cryptocurrency payment apps market during the forecast period. Owing to the rapid technological advancements and growing acceptance of digital currency with various mergers and tie-ups across the region is boosting the demand for cryptocurrency payment apps in the region. For instance, in November 2021, Mastercard International Inc. partnered with several digital currency companies across Asia-Pacific to launch the region’s first crypto-linked payment cards. In partnership with Mastercard, three cryptocurrency service providers in Asia-Pacific will be launching crypto-funded Mastercard payment cards. Consumers and businesses in the region will be able to apply for crypto-linked Mastercard credit, debit or pre-paid cards that will enable them to instantly convert their cryptocurrencies into traditional fiat currency. The three digital asset service providers includes Amber Group, Bitkub in Thailand, and CoinJar in Australia.
Market Players Outlook
The major companies serving the global cryptocurrency payment apps market include Apirone OÜ, BitPay Inc., CB Payments, Ltd., Coinomi Ltd. SecuX Technology Inc. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2022, DePay brings their Web3 P2P payment gateway to eligible Shopify merchants. DePay will provide Shopify merchants the ability to allow buyers to send direct payments to store owner wallets with tens of thousands of accepted tokens on supported blockchains. DePay's multichain Web3 payments will unlock the ability for merchants to receive any preferred tokens with blockchain-based asset conversion of incoming payments in real-time.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global cryptocurrency payment apps market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Apirone OÜ
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. BitPay Inc.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. CB Payments, Ltd
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Coinomi Ltd.
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. SecuX Technology Inc.
3.6.1. Overview
3.6.2. Financial Analysis
3.6.3. SWOT Analysis
3.6.4. Recent Developments
3.7. Key Strategy Analysis
4. Market Segmentation
4.1. Global Cryptocurrency Payment Apps Market by Cryptocurrency Type
4.1.1. Bitcoin
4.1.2. Ethereum
4.1.3. Litecoin
4.1.4. DAI
4.1.5. Ripple
4.1.6. Others
4.2. Global Cryptocurrency Payment Apps Market by Payment Type
4.2.1. In-Store Payment
4.2.2. Online Payment
4.3. Global Cryptocurrency Payment Apps Market by End-User
4.3.1. Individuals
4.3.2. Businesses
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. 2U, Inc.
6.2. B2BinPay
6.3. Binance Services Holdings Ltd.
6.4. Bisq
6.5. Blockonomics
6.6. Circle Internet Financial, LLC
6.7. CoinGate
6.8. CoinJar UK Ltd.
6.9. CPS Solutions OU
6.10. Electroneum Ltd.
6.11. eToro group
6.12. Invest Volver Inc.
6.13. Mycelium Holding LTD.
6.14. OpenNode, Inc.
6.15. ZuPago HyBrid (HD) Wallet
1. GLOBAL CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY CRYPTOCURRENCY TYPE , 2021-2028 ($ MILLION)
2. GLOBAL BITCOIN PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL ETHEREUM PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL LITECOIN PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL DAI PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL RIPPLE PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL OTHER CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY PAYMENT TYPE, 2021-2028 ($ MILLION)
9. GLOBAL CRYPTOCURRENCY IN-STORE PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL CRYPTOCURRENCY ONLINE PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
12. GLOBAL CRYPTOCURRENCY PAYMENT APPS FOR INDIVIDUALS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL 2 CRYPTOCURRENCY PAYMENT APPS FOR BUSINESSES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. GLOBAL CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. NORTH AMERICAN CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
16. NORTH AMERICAN CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY Cryptocurrency type, 2021-2028 ($ MILLION)
17. NORTH AMERICAN CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY PAYMENT TYPE, 2021-2028 ($ MILLION)
18. NORTH AMERICAN CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
19. EUROPEAN CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
20. EUROPEAN CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY Cryptocurrency type, 2021-2028 ($ MILLION)
21. EUROPEAN CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY PAYMENT TYPE, 2021-2028 ($ MILLION)
22. EUROPEAN CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY Cryptocurrency type, 2021-2028 ($ MILLION)
25. ASIA-PACIFIC CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY PAYMENT TYPE, 2021-2028 ($ MILLION)
26. ASIA-PACIFIC CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
27. REST OF THE WORLD CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
28. REST OF THE WORLD CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY Cryptocurrency type, 2021-2028 ($ MILLION)
29. REST OF THE WORLD CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY PAYMENT TYPE, 2021-2028 ($ MILLION)
30. REST OF THE WORLD CRYPTOCURRENCY PAYMENT APPS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
1. GLOBAL CRYPTOCURRENCY PAYMENT APPS MARKET SHARE BY CRYPTOCURRENCY TYPE, 2021 VS 2028 (%)
2. GLOBAL BITCOIN PAYMENT APPS MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBAL ETHEREUM PAYMENT APPS MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL LITECOIN PAYMENT APPS MARKET SHARE BY REGION, 2021 VS 2028 (%)
5. GLOBAL DAI PAYMENT APPS MARKET SHARE BY REGION, 2021 VS 2028 (%)
6. GLOBAL RIPPLE PAYMENT APPS MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL OTHER CRYPTOCURRENCY PAYMENT APPS MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL CRYPTOCURRENCY PAYMENT APPS MARKET SHARE BY PAYMENT TYPE, 2021 VS 2028 (%)
9. GLOBAL CRYPTOCURRENCY IN-STORE PAYMENT APPS MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL CRYPTOCURRENCY ONLINE PAYMENT APPS MARKET SHARE BY REGION, 2021 VS 2028 (%)
11. GLOBAL CRYPTOCURRENCY PAYMENT APPS MARKET SHARE BY END-USER, 2021 VS 2028 (%)
12. GLOBAL CRYPTOCURRENCY PAYMENT APPS FOR INDIVIDUALS MARKET SHARE BY REGION, 2021 VS 2028 (%)
13. GLOBAL CRYPTOCURRENCY PAYMENT APPS FOR BUSINESSES MARKET SHARE BY REGION, 2021 VS 2028 (%)
14. GLOBAL CRYPTOCURRENCY PAYMENT APPS MARKET SHARE BY REGION, 2021 VS 2028 (%)
15. US CRYPTOCURRENCY PAYMENT APPS MARKET SIZE, 2021-2028 ($ MILLION)
16. CANADA CRYPTOCURRENCY PAYMENT APPS MARKET SIZE, 2021-2028 ($ MILLION)
17. UK CRYPTOCURRENCY PAYMENT APPS MARKET SIZE, 2021-2028 ($ MILLION)
18. FRANCE CRYPTOCURRENCY PAYMENT APPS MARKET SIZE, 2021-2028 ($ MILLION)
19. GERMANY CRYPTOCURRENCY PAYMENT APPS MARKET SIZE, 2021-2028 ($ MILLION)
20. ITALY CRYPTOCURRENCY PAYMENT APPS MARKET SIZE, 2021-2028 ($ MILLION)
21. SPAIN CRYPTOCURRENCY PAYMENT APPS MARKET SIZE, 2021-2028 ($ MILLION)
22. REST OF EUROPE CRYPTOCURRENCY PAYMENT APPS MARKET SIZE, 2021-2028 ($ MILLION)
23. INDIA CRYPTOCURRENCY PAYMENT APPS MARKET SIZE, 2021-2028 ($ MILLION)
24. CHINA CRYPTOCURRENCY PAYMENT APPS MARKET SIZE, 2021-2028 ($ MILLION)
25. JAPAN CRYPTOCURRENCY PAYMENT APPS MARKET SIZE, 2021-2028 ($ MILLION)
26. SOUTH KOREA CRYPTOCURRENCY PAYMENT APPS MARKET SIZE, 2021-2028 ($ MILLION)
27. REST OF ASIA-PACIFIC CRYPTOCURRENCY PAYMENT APPS MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF THE WORLD CRYPTOCURRENCY PAYMENT APPS MARKET SIZE, 2021-2028 ($ MILLION)
