13 Jul 2021

The bitcoin trading ecosystem: an overview

Trading venues are the section of the Bitcoin ecosystem that most people are familiar with. However, the bitcoin trading ecosystem would not be working as seamlessly as it does today if it were not for the presence of other participants.
bitcoin trading ecosystem overview.png
Source: Arcane Research
Market makers, brokerages and OTC desks; custody companies, crypto-friendly banks and fiat onramps are all essential parts of the growing ecosystem around bitcoin.This blog post is an extract from our latest report: “The Bitcoin Trading Ecosystem”.The map overview above illustrates how all these parts are connected, exemplified by a few selected companies.Most parts of the bitcoin trading ecosystem interact with and rely on one another. Some providers could be both competitors but also clients offering services to each other. For example, some retail exchanges may source liquidity from institutional platforms. Traditional payments apps offering crypto trading could source liquidity from brokerages, and banks who want to provide custody solutions are white-labeling from specific crypto custody providers. These are just a few examples to show how everything is interconnected. Download the report to get the detailed walkthrough of the bitcoin trading ecosystem.
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