Crypto Custody Provider Market by Type (Self-Custody, Third-Party Custody), Function (Asset Storage, Brokerage, Investment Agency), Use-Cases - Global Forecast 2024-2030
Description
Crypto Custody Provider Market by Type (Self-Custody, Third-Party Custody), Function (Asset Storage, Brokerage, Investment Agency), Use-Cases - Global Forecast 2024-2030
The Crypto Custody Provider Market size was estimated at USD 1.77 billion in 2023 and expected to reach USD 2.99 billion in 2024, at a CAGR 79.86% to reach USD 108.37 billion by 2030.
The crypto custody providers market encompasses firms that offer secured storage and safety services for cryptocurrencies and digital assets. The crypto custody providers safeguard the cryptographic keys that grant access to the digital assets to prevent unauthorized use and reduce the risk of theft. The increasing crypto adoption is contributing to increasing need for secure custody services. The surge in institutional investors entering the cryptocurrency space requires robust custody services to handle large volumes of digital assets. The innovations in encryption and blockchain technology enhance the security and functionality of custody services. However, high-profile thefts and hacking incidents continue to pose a threat to market growth. The absence of uniform global regulations can hinder market expansion and consumer confidence. Moreover, integration with traditional financial systems to broaden market accessibility and appeal is generating significant growth potential in the market. The development of insurance products to provide additional security to the stored assets is anticipated to generate significant market growth.
Regional Insights
In the Americas region, the United States and Canada represent a significant market for crypto custody solutions due to a sizable number of institutional investors becoming increasingly involved in the crypto space. The stringent regulatory frameworks and the presence of major players in the Americas region influence customer behavior towards prioritizing security and compliance with regulatory standards. Within the European Union, a uniform regulatory landscape is expected to stir consumer interest and trust further. European clients are typically attentive to compliance and are inclined to engage with custodians offering multi-jurisdictional regulatory assurance. The Middle East region has shown a burgeoning interest in crypto assets, with countries such as the UAE positioning themselves as crypto-friendly hubs. Africa's unique position as a largely untapped market with a rising fintech scene presents tremendous opportunities for market growth. In the APAC region, rising investments into crypto custody technology drives operational efficiency, security, and compliance with emerging regulatory guidelines. The growing interest in digital assets among consumers in the APAC region suggests a potential crypto custody solutions market.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Crypto Custody Provider Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Growing Utilization of Digital Asset Custody Services for Security and Storage of Cryptocurrency
- Increasing Number of Cyberattacks on Cryptocurrency Exchanges
- Market Restraints
- Lack of Awareness About the Benefits Associated with Crypto Custody
- Market Opportunities
- Introduction of New Digital Asset Custody Platforms and Services
- Partnerships Between Financial Institutes and Crypto Custody Service Providers
- Market Challenges
- Regulatory Uncertainty and Potential Risks Associated With Crypto Custody
- Market Segmentation Analysis
- Type: Growing need for self-custody options to achieve privacy and security
- Function: Expansion of brokerage to cater to diverse customer preferences
- Use-Cases: Requirement for sophisticated, robust, and scalable crypto-custody solutions for investment
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Crypto Custody Provider Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Crypto Custody Provider Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Crypto Custody Firm Copper Launches Custodian-agnostic Settlement Network for Institutional Clients
Copper, a crypto custody provider, has unveiled a settlement network designed to cater to the expanding demands of institutional participants in the digital asset space. The platform is custodian-neutral, emphasizing its ability to seamlessly integrate with various custody solutions. This ensures a heightened level of scalability and privacy, aiming to streamline the settlement process for over-the-counter (OTC) trades.
CoKeeps Gets SC's Nod, Becomes Malaysia's First Qualified DAC
CoKeeps has officially become Malaysia's pioneering digital asset custodian (DAC), having been granted approval by the Securities Commission (SC) to provide custodial services for digital assets. This landmark approval underscores the SC's acknowledgment of the growing integration of digital assets within both individual and institutional portfolios, highlighting the necessity for regulated and secure solutions for asset protection. The endorsement by the SC marks a significant milestone in establishing a trustworthy third-party service for the secure management of digital assets, reinforcing the framework for a more resilient digital asset market.
German Banking Giant DZ Bank Launches Crypto Custody Platform
Deutsche Bank, a global financial entity, has entered into a pivotal partnership with Taurus, a Swiss-based crypto firm, to inaugurate an advanced crypto custody solution tailored for the institutional market. This new offering aims to address the growing demand for a secure environment for the storage and management of digital assets, including cryptocurrencies and tokenized securities, thereby providing institutional clients with the assurance and reliability synonymous with Deutsche Bank's legacy in financial custodianship.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Crypto Custody Provider Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Crypto Custody Provider Market, highlighting leading vendors and their innovative profiles. These include Anchorage Digital, Bakkt Holdings, Inc., BCB Group, Bitcoin Suisse AG, BitGo Inc., Circle Internet Financial Limited, Cobo Services, Coinbase Custody International, Ltd., CoKeeps Sdn Bhd, Copper Technologies, Custonomy, Deutsche Börse AG, Fidelity Digital Asset Services, LLC., Fireblocks Inc., Gemini Trust Company, LLC, International Business Machines Corporation, Ledger SAS, Matrixport Technologies Ltd., New York Digital Investment Group LLC, NodeVenture by TMIA GmbH, Orbitos, Paxos Trust Company, LLC, Riddle & Code GmbH, Tangany GmbH, The Bank of New York Mellon Corporation, Tokensoft Inc., and Venly NV.
Market Segmentation & Coverage
This research report categorizes the Crypto Custody Provider Market to forecast the revenues and analyze trends in each of the following sub-markets:- Type
- Self-Custody
- Third-Party Custody
- Custodial Banks
- Digital Asset Managers
- Exchanges
- Function
- Asset Storage
- Brokerage
- Investment Agency
- Security Token Management
- Use-Cases
- Collateralized Loans
- Corporate Treasury
- Crypto Staking
- Investment Funds
- Retail Offering
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
Table of Contents
186 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Growing Utilization of Digital Asset Custody Services for Security and Storage of Cryptocurrency
- 5.1.1.2. Increasing Number of Cyberattacks on Cryptocurrency Exchanges
- 5.1.2. Restraints
- 5.1.2.1. Lack of Awareness About the Benefits Associated with Crypto Custody
- 5.1.3. Opportunities
- 5.1.3.1. Introduction of New Digital Asset Custody Platforms and Services
- 5.1.3.2. Partnerships Between Financial Institutes and Crypto Custody Service Providers
- 5.1.4. Challenges
- 5.1.4.1. Regulatory Uncertainty and Potential Risks Associated With Crypto Custody
- 5.2. Market Segmentation Analysis
- 5.2.1. Type: Growing need for self-custody options to achieve privacy and security
- 5.2.2. Function: Expansion of brokerage to cater to diverse customer preferences
- 5.2.3. Use-Cases: Requirement for sophisticated, robust, and scalable crypto-custody solutions for investment
- 5.3. Market Trend Analysis
- 5.4. Cumulative Impact of Russia-Ukraine Conflict
- 5.5. Cumulative Impact of High Inflation
- 5.6. Porter’s Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
- 5.7. Value Chain & Critical Path Analysis
- 5.8. Regulatory Framework Analysis
- 5.9. Client Customization
- 6. Crypto Custody Provider Market, by Type
- 6.1. Introduction
- 6.2. Self-Custody
- 6.3. Third-Party Custody
- 7. Crypto Custody Provider Market, by Function
- 7.1. Introduction
- 7.2. Asset Storage
- 7.3. Brokerage
- 7.4. Investment Agency
- 7.5. Security Token Management
- 8. Crypto Custody Provider Market, by Use-Cases
- 8.1. Introduction
- 8.2. Collateralized Loans
- 8.3. Corporate Treasury
- 8.4. Crypto Staking
- 8.5. Investment Funds
- 8.6. Retail Offering
- 9. Americas Crypto Custody Provider Market
- 9.1. Introduction
- 9.2. Argentina
- 9.3. Brazil
- 9.4. Canada
- 9.5. Mexico
- 9.6. United States
- 10. Asia-Pacific Crypto Custody Provider Market
- 10.1. Introduction
- 10.2. Australia
- 10.3. China
- 10.4. India
- 10.5. Indonesia
- 10.6. Japan
- 10.7. Malaysia
- 10.8. Philippines
- 10.9. Singapore
- 10.10. South Korea
- 10.11. Taiwan
- 10.12. Thailand
- 10.13. Vietnam
- 11. Europe, Middle East & Africa Crypto Custody Provider Market
- 11.1. Introduction
- 11.2. Denmark
- 11.3. Egypt
- 11.4. Finland
- 11.5. France
- 11.6. Germany
- 11.7. Israel
- 11.8. Italy
- 11.9. Netherlands
- 11.10. Nigeria
- 11.11. Norway
- 11.12. Poland
- 11.13. Qatar
- 11.14. Russia
- 11.15. Saudi Arabia
- 11.16. South Africa
- 11.17. Spain
- 11.18. Sweden
- 11.19. Switzerland
- 11.20. Turkey
- 11.21. United Arab Emirates
- 11.22. United Kingdom
- 12. Competitive Landscape
- 12.1. Market Share Analysis, 2023
- 12.2. FPNV Positioning Matrix, 2023
- 12.3. Competitive Scenario Analysis
- 12.3.1. Crypto Custody Firm Copper Launches Custodian-agnostic Settlement Network for Institutional Clients
- 12.3.2. CoKeeps Gets SC's Nod, Becomes Malaysia's First Qualified DAC
- 12.3.3. German Banking Giant DZ Bank Launches Crypto Custody Platform
- 12.3.4. Ripple Buys Crypto Custody Provider Metaco
- 13. Competitive Portfolio
- 13.1. Key Company Profiles
- 13.2. Key Product Portfolio
Pricing
Currency Rates
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