Stratview Research
The global Mexican Cryptocurrency market size was valued at US$739 million in 2023 and is projected to reach US$1,409 million by 2029, witnessing a market growth CAGR of 7.2% from 2024 to 2029, according to an analysis by Stratview Research.
Stratview Research, a global market research firm, has launched a report on the global Mexican Cryptocurrency market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.
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Market Statistics:
Market Size in 2023: US$739 million
Market Size in 2029: US$1,409 million
Growth (CAGR): 7.2% during 2024-2029
Leading Type: Bitcoin
Leading Region: North America
Forecast Period: 2024-2029
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 1
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights & Market Share Analysis of the Mexican Cryptocurrency Market:
The global Mexican Cryptocurrency market is segmented based on type, and Region.
Based on the type –
– In Mexico, Bitcoin adoption is rising due to its appeal as an inflation hedge, utility in facilitating remittances, and supported by advancements in blockchain technology.
– The recovery in Bitcoin trade volume is driven by rising demand and expectations of a rate cut by the Federal Reserve in 2024. It is anticipated that the value of Bitcoin will rise if demand stays constant or rises.
– Stablecoins can align more closely with regulatory frameworks, making them attractive for institutional use and broader acceptance.
– In 2023, Mexico’s central bank collaborated with Ripple to use XRP for cross-border payments, aligning with the broader trend of rising cryptocurrency adoption in the country.
Mexican Cryptocurrency Market Drivers:
Some of the key drivers listed in the report are given below.
– Remittances in Mexico: The world’s second-largest recipient after India. Despite economic challenges such as high inflation and interest rates, remittances to Mexico continue to grow, demonstrating resilience in the face of economic fluctuations. Most of these remittances come from the USA.
– Increasing adoption of cryptocurrency among the population: The growing understanding and adoption of blockchain technology’s benefits, such as transparency, immutability, and decentralization, have driven interest in cryptocurrencies.
– Growing number of Fintech companies: The user base for cryptocurrency services provided by Fintech companies is expanding rapidly, contributing to the overall growth of the market. As more people become familiar with digital assets, the demand for cryptocurrencies is expected to increase.
Competitive Landscape: Top Companies in the Mexican Cryptocurrency Market:
Most of the major players compete in some of the factors, including price, service offerings, regional presence, etc. The following are the key players in the Mexican Cryptocurrency Market:
• Bitso
• Binance
• Bitfinex
Note: The above list does not necessarily include all the top players in the market.
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What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the Mexican Cryptocurrency market, answering critical questions like
– How big is the sales opportunity?
– Which regions offer the best sales opportunities?
– Which are the most attractive market segments?
– Which are the top players and their market positioning?
– How complex is the business environment?
– What are the factors affecting the market?
For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com
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This release was published on openPR.
