Currency Exchange Software Market Disclosing Latest Advancements 2021 - Calyx Solutions Inc., Clear View Systems Ltd, Digital Currency Systems, MoneyExchangeSoft

Market Insights Reports has added new statistical data to its repository titled as, Global Currency Exchange Software Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The Currency Exchange Software market report covers the post-COVID-19 impact on various regions and major countries and on the future development of the industry is pointed out.

The currency exchange software market is expected to register a CAGR of 12.50% during the forecast period from 2021 - 2026. 

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Top Key Players in the Global Currency Exchange Software Market are Calyx Solutions Inc., Clear View Systems Ltd, Digital Currency Systems, MoneyExchangeSoft, Yodatech Inc., Broadway Technology, LLC, 4xLabs Pte. Ltd, CGI Design Inc., Cymonz, Fincode Ltd, Medoc Computers Ltd, Cinque Technologies, Vinit Solutions Ltd, Wallsoft, and others. 

Industry News and Update:

- April 2020 - GAIN Capital Holdings Inc. was expected to be acquired by INTL FCStone Inc. Such acquisition is suggestive of bringing together GAIN's expertise across retail customer and INTL's access to the financial markets. The combining assets and knowledge of both companies will create a value proposition that enables low-cost access to foreign exchange markets.

- January 2020 - Broadway Technology has rolled out extensive new functionality for repurchase agreement (repo) trading on its FICC trading platform, introducing complete and automated workflows for trading, hedging, and collateral management on a global scale. It encompasses connectivity to multiple repo markets, order routing and management, and execution tools to help minimize market impact and maximize quality, pricing, and automated hedging.

Key Market Trends:

Cloud Segment is Expected to Hold the Major Share

- Cloud-based systems are cost-effective, as they can use the software on a pay-per-use basis. Enterprises have various benefits as the cloud-based software offers advantages, including low maintenance costs, the limited requirement for hardware infrastructure, more accessible and faster implementation of IT solutions, and less dependency on in-house IT personnel with no licensing fees. The technology can be deployed for financial institutions on a cloud infrastructure where the services are accessible online or on mobile and are available through APIs that can be integrated into the existing system.
- Moreover, enterprises can access data and services through web-based platforms, such as web browsing. The short implementation time also reduces the cost of implementation, thereby improving the return on investment (ROI). Various companies in the market, such as 4xLabs Pte. Ltd is focusing on software design, architecture and testing, automation of processes with continuous integration, and a deployment system by leveraging the cloud.
- In January 2020, Euronet has changed the name of its API-accessible and cloud-based payments solution from the Digital Integrated Payments Cloud to the REV Payments Cloud. The product’s technology remains the same as its purpose of providing developers API access to Euronet’s software technology and platforms (payments, issuing, compliance, currency exchange, etc.) as services and the company’s network of ATMs, POS terminals, and Ria Money Transfer locations.
- In February 2020, Binance announced that it would launch a digital asset trading platform that can be rebranded by smaller exchanges for their local markets. Binance Cloud will offer local exchanges spot market and futures trading, as well as regional bank API integrations and peer-to-peer (P2P) fiat-to-crypto currency exchange services. Implementing a product like Binance Cloud would relieve potential exchange operators of the software burdens involved in security and scalability.

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Regional Analysis:

North America is Expected to Hold Major Share

- The region houses a vast number of enterprises among the small money transfer firms, travel agencies, and forex fixing companies. Also influenced by the adequate and upgraded IT infrastructure availability and dispersion for foreign exchange organizations and money transfer firms, are coupling to boost the market for the development of currency exchange software in the region. The Foreign Exchange products sellers globally are partnering with the leading United States brokers to enter a lucrative market.
- For instance, in July 2019, AFEX got selected by The Money Cloud, a UK-based FX marketplace platform for consumers and businesses, as its FX partner to mark an entry into the United States. AFEX is a foreign exchange specialist that offers customizable global payments and API solutions. The Money Cloud’s platform for businesses and private clients make the process of comparing international exchange rates secure and transparent. The platform additionally, allows clients to send money to multiple beneficiaries using different brokers      

This Global Currency Exchange Software Market report addresses:

– The Market size from 2016-2021

– Expected market growth until 2026

– Forecast of how market drivers, restraints, and future opportunities will affect

– Segment and regions that will drive or lead the market growth and why

– Comprehensive mapping of the competitive landscape

– In-depth analysis of key sustainability strategies adopted by market place.                              

Frequently Asked Questions about Global Currency Exchange Software market:

– What are the recent developments and government policies?
– Why might we forecast a downturn in a particular economy next year?
– Why do we say the currency is set to appreciate?
– What countries and sectors offer the highest potential?
– Where are the greatest dangers?              

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