According to the crypto market sizing report published by Crypto.com, the number of international cryptocurrency owners increased by 34% in 2023. The amount spent stood at 432 million in January 2023, and by December, it had increased to 580 million.
A similar situation occurred in 2022, with a considerable increase despite significant obstacles. These were monetary restraints imposed by Western central banks to avert inflation, as well as wars in the Middle East and Europe and the COVID ripple effect.
Growth was moderate in the first half of 2023 because of the successful scaling of Ethereum (ETH) Shanghai. Bitcoin ETF registrations accounted for the growth in the second half of 2023. This surge was driven by a 33% increase in BTC ownership, which rose from 222 million in January to 296 million by December. ETH ownership increased by 39%. The amount was 89 million in January, but it jumped to 124 million in December.
In addition, Crypto.com continued its exponential growth throughout 2023. Essential determinants included the requisite certifications, exclusive partnerships, and product launches. This required Crypto.com to obtain certification from Dubai’s Virtual Assets Regulatory Authority (VARA) as an MVP Preparatory and Virtual Asset Service Provider.
In addition, the Monetary Authority of Singapore (MAS) granted Major Payment Institution certification, and the Bank of Spain included Virtual Asset Service Provider on its list. Further items include obtaining listing consent from De Nederlandsche Bank and acceptance through an Electronic Money Institution that has been approved by the Financial Conduct Authority (FCA) of the United Kingdom, among others.
As per the CEO of Crypto.com, Kris Marszalek, notwithstanding the numerous challenges they faced, the organization persisted and continued to innovate to advance the business.
Established in 2016, Crypto.com is the market leader in regulatory compliance, security, and privacy and is relied upon by over 80 million clients globally. Their straightforward goal is to have cryptocurrency in every wallet. Innovation is the means by which Crypto.com is dedicated to accelerating the adoption of cryptocurrencies.