In 2023, the cryptocurrency market revenue in Malaysia grew by nearly 98 percent, a significant growth after a decrease of more than 30 percent in 2022. Statista Digital Market Insight forecasted that the cryptocurrency market will continue to have revenue growth at a CAGR of 7.82 percent from 2024 to 2028.
Revenue growth in the cryptocurrency market in Malaysia from 2018 to 2023, with forecasts until 2028
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 growth in the cryptocurrency market in Malaysia from 2018 to 2023, with forecasts until 2028 [Graph]. In Statista. Retrieved November 05, 2024, from https://www.statista.com/forecasts/1468917/malaysia-cryptocurrency-market-revenue-growth
Statista. "Revenue growth in the cryptocurrency market in Malaysia from 2018 to 2023, with forecasts until 2028 ." Chart. March 31, 2024. Statista. Accessed November 05, 2024. https://www.statista.com/forecasts/1468917/malaysia-cryptocurrency-market-revenue-growth
Statista. (2024). Revenue growth in the cryptocurrency market in Malaysia from 2018 to 2023, with forecasts until 2028 . Statista. Statista Inc.. Accessed: November 05, 2024. https://www.statista.com/forecasts/1468917/malaysia-cryptocurrency-market-revenue-growth
Statista. "Revenue Growth in The Cryptocurrency Market in Malaysia from 2018 to 2023, with Forecasts until 2028 ." Statista, Statista Inc., 31 Mar 2024, https://www.statista.com/forecasts/1468917/malaysia-cryptocurrency-market-revenue-growth
Statista, Revenue growth in the cryptocurrency market in Malaysia from 2018 to 2023, with forecasts until 2028 Statista, https://www.statista.com/forecasts/1468917/malaysia-cryptocurrency-market-revenue-growth (last visited November 05, 2024)
Revenue growth in the cryptocurrency market in Malaysia from 2018 to 2023, with forecasts until 2028 [Graph], Statista, March 31, 2024. [Online]. Available: https://www.statista.com/forecasts/1468917/malaysia-cryptocurrency-market-revenue-growth