The Latin America, Middle East and Africa Decentralized Finance Market would witness market growth of 47.0% CAGR during the forecast period (2022-2028).
The open source code used to create Ethereum and the DeFi protocols that run on it is also accessible to anybody for review, audit, and development. DeFi, in contrast to traditional finance, is characterized by its open, permission less access. Everyone with a crypto wallet and an Internet connection could access DeFi applications created on Ethereum, irrespective of the location and frequently without any minimum quantity of funds being required.
The term 'decentralized exchange'(DEX) refers to cryptocurrency exchanges that function decentralized, allowing users to conduct peer-to-peer transactions and retain ownership of their funds. Since crypto assets never come into the exchange's possession, DEXs lessen the danger of price manipulation, hacking, and theft. Additionally, DEXs provide token projects with listing-fee-free access to liquidity that frequently rivals that of centralized exchanges.
While order books and other services may be hosted by centralized servers, users' private keys are not kept on such servers in some exchanges that use decentralization to varying degrees. At the moment, DEXs like AirSwap, Liquality, Oasis, and Uniswap are common in the DeFi space. Aggregators of DeFi liquidity data, like MetaMask Swaps, improve trading experiences by giving DeFi customers unmatched knowledge, allowing them to choose the best price quote and the lower failure rates for the particular quote.
In South America, Brazil is setting the pace for the implementation of decentralized finance. According to a ConsenSys poll, Brazil has the most DeFi portfolio customers in the region. The trend away from considering cryptocurrencies as actual money and toward seeing them as an alternative asset class that may aid people in achieving certain financial goals is what is fueling the expansion of decentralized finance in Brazil. In order to safeguard their personal wealth and as a method to protect against economic volatility, inhabitants of Argentina and Venezuela have begun to move away from using fiat money in favour of trading and saving in digital assets & blockchain money options.
The Brazil market dominated the LAMEA Decentralized Finance Market by Country in 2021; thereby, achieving a market value of $2,146 million by 2028. The Argentina market is experiencing a CAGR of 47.7% during (2022-2028). Additionally, The UAE market is exhibiting a CAGR of 46.6% during (2022-2028).
Based on Component, the market is segmented into Blockchain Technology, Decentralized Applications (dApps), and Smart Contracts. Based on Application, the market is segmented into Data & Analytics, Decentralized Exchanges, Payments, Stablecoins, Marketplaces & Liquidity, Compliance & Identity, Prediction Industry, Assets Tokenization, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Aave, Balancer Labs, Compound Labs, Inc., Badger DAO, Bancor, SushiSwap (Yearn Finance), MakerDao, Synthetix and Curve Finance
The open source code used to create Ethereum and the DeFi protocols that run on it is also accessible to anybody for review, audit, and development. DeFi, in contrast to traditional finance, is characterized by its open, permission less access. Everyone with a crypto wallet and an Internet connection could access DeFi applications created on Ethereum, irrespective of the location and frequently without any minimum quantity of funds being required.
The term 'decentralized exchange'(DEX) refers to cryptocurrency exchanges that function decentralized, allowing users to conduct peer-to-peer transactions and retain ownership of their funds. Since crypto assets never come into the exchange's possession, DEXs lessen the danger of price manipulation, hacking, and theft. Additionally, DEXs provide token projects with listing-fee-free access to liquidity that frequently rivals that of centralized exchanges.
While order books and other services may be hosted by centralized servers, users' private keys are not kept on such servers in some exchanges that use decentralization to varying degrees. At the moment, DEXs like AirSwap, Liquality, Oasis, and Uniswap are common in the DeFi space. Aggregators of DeFi liquidity data, like MetaMask Swaps, improve trading experiences by giving DeFi customers unmatched knowledge, allowing them to choose the best price quote and the lower failure rates for the particular quote.
In South America, Brazil is setting the pace for the implementation of decentralized finance. According to a ConsenSys poll, Brazil has the most DeFi portfolio customers in the region. The trend away from considering cryptocurrencies as actual money and toward seeing them as an alternative asset class that may aid people in achieving certain financial goals is what is fueling the expansion of decentralized finance in Brazil. In order to safeguard their personal wealth and as a method to protect against economic volatility, inhabitants of Argentina and Venezuela have begun to move away from using fiat money in favour of trading and saving in digital assets & blockchain money options.
The Brazil market dominated the LAMEA Decentralized Finance Market by Country in 2021; thereby, achieving a market value of $2,146 million by 2028. The Argentina market is experiencing a CAGR of 47.7% during (2022-2028). Additionally, The UAE market is exhibiting a CAGR of 46.6% during (2022-2028).
Based on Component, the market is segmented into Blockchain Technology, Decentralized Applications (dApps), and Smart Contracts. Based on Application, the market is segmented into Data & Analytics, Decentralized Exchanges, Payments, Stablecoins, Marketplaces & Liquidity, Compliance & Identity, Prediction Industry, Assets Tokenization, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Aave, Balancer Labs, Compound Labs, Inc., Badger DAO, Bancor, SushiSwap (Yearn Finance), MakerDao, Synthetix and Curve Finance
Scope of the Study
Market Segments Covered in the Report:
By Component
- Blockchain Technology
- Decentralized Applications (dApps)
- Smart Contracts
By Application
- Data & Analytics
- Decentralized Exchanges
- Payments
- Stablecoins
- Marketplaces & Liquidity
- Compliance & Identity
- Prediction Industry
- Assets Tokenization
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Aave
- Balancer Labs
- Compound Labs, Inc.
- Badger DAO
- Bancor
- SushiSwap (Yearn Finance)
- MakerDao
- Synthetix
- Curve Finance
Unique Offerings from the Publisher
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. LAMEA Decentralized Finance Market by Component
Chapter 4. LAMEA Decentralized Finance Market by Application
Chapter 5. LAMEA Decentralized Finance Market by Country
Chapter 6. Company Profiles
Companies Mentioned
- Aave
- Balancer Labs
- Compound Labs, Inc.
- Badger DAO
- Bancor
- SushiSwap (Yearn Finance)
- MakerDao
- Synthetix
- Curve Finance
Methodology
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