In 2023, the revenue from the cryptocurrency segment in the fintech market in Malaysia amounted to around 251 million U.S. dollars. Statista Digital Market Insights forecasted that the revenue of the cryptocurrency in the country will continue to increase and reach more than 400 million U.S. dollars by 2028.
Revenue from the cryptocurrency market in Malaysia from 2017 to 2023, with forecasts until 2028
(in million U.S. dollars)
Data provided by Statista Market Insights are estimates.
Definition:
Cryptocurrencies are digital currencies that use an online ledger with strong cryptography to secure online transactions. Generally, cryptocurrencies are decentralized networks based on blockchain technology – a distributed ledger technology that autonomously records peer-to-peer transactions across decentralized computers without a central authority. Cryptocurrencies are predominantly traded and exchanged cryptocurrency exchanges, neobrokers, and neobanks.
Cryptocurrency networks, cryptocurrency exchanges, neobrokers, and neobanks require digital onboarding of their clients and do not have physical branches to provide consultations and services to their customers. Nevertheless, it is not mandatory for their potential clients to have a smartphone to open an account. The above-mentioned financial entities usually charge a fee for their services, and, given the nature of cryptocurrency trading activities, these platforms can be accessed either via a mobile app or via a desktop website.
Additional Information:
Within our market scope, we focus only on cryptocurrency exchanges, online trading platforms, and neobanks that provide either exclusively B2C or both B2B and B2C services. Key players in this market are Coinbase, Binance & Robinhood.
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Statista. (March 31, 2024). Revenue from the cryptocurrency market in Malaysia from 2017 to 2023, with forecasts until 2028 (in million U.S. dollars) [Graph]. In Statista. Retrieved November 05, 2024, from https://www.statista.com/forecasts/1468906/malaysia-cryptocurrency-market-revenue
Statista. "Revenue from the cryptocurrency market in Malaysia from 2017 to 2023, with forecasts until 2028 (in million U.S. dollars)." Chart. March 31, 2024. Statista. Accessed November 05, 2024. https://www.statista.com/forecasts/1468906/malaysia-cryptocurrency-market-revenue
Statista. (2024). Revenue from the cryptocurrency market in Malaysia from 2017 to 2023, with forecasts until 2028 (in million U.S. dollars). Statista. Statista Inc.. Accessed: November 05, 2024. https://www.statista.com/forecasts/1468906/malaysia-cryptocurrency-market-revenue
Statista. "Revenue from The Cryptocurrency Market in Malaysia from 2017 to 2023, with Forecasts until 2028 (in Million U.S. Dollars)." Statista, Statista Inc., 31 Mar 2024, https://www.statista.com/forecasts/1468906/malaysia-cryptocurrency-market-revenue
Statista, Revenue from the cryptocurrency market in Malaysia from 2017 to 2023, with forecasts until 2028 (in million U.S. dollars) Statista, https://www.statista.com/forecasts/1468906/malaysia-cryptocurrency-market-revenue (last visited November 05, 2024)
Revenue from the cryptocurrency market in Malaysia from 2017 to 2023, with forecasts until 2028 (in million U.S. dollars) [Graph], Statista, March 31, 2024. [Online]. Available: https://www.statista.com/forecasts/1468906/malaysia-cryptocurrency-market-revenue
