Competitors: The UK cryptocurrency exchange market is competitive, with established players like Binance, eToro, and Coinbase. These platforms primarily focus on digital transactions, leaving a significant gap in cash-based services. maz786 aims to fill this gap with its specialised cash-to-crypto exchange services.

Market Trends: The cryptocurrency market has shown a remarkable growth trajectory. As per recent reports, the global cryptocurrency market size was valued at $1.49 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 11.2% from 2021 to 2028 (source: Grand View Research). This growth is fuelled by increasing acceptance of cryptocurrencies, advancements in blockchain technology, and growing investment from institutional investors. In the UK, cryptocurrency usage has significantly increased over recent years. A 2020 FCA consumer research found that 2.6 million UK consumers have bought crypto-assets at some point, an increase from 1.5 million in 2019.

Growth Opportunities: Despite growing cryptocurrency adoption, access to these digital assets via cash transactions remains limited. There’s an untapped market segment comprising individuals and businesses, especially those who prefer cash transactions due to privacy concerns or lack of banking access. maz786 aims to cater to this segment, thereby unlocking a significant growth opportunity. Moreover, the post-Brexit UK provides a conducive regulatory environment for cryptocurrency businesses. The government’s supportive stance towards fintech innovation presents an opportunity to establish maz786 as a trusted and compliant cash-to-crypto exchange platform.

Market Size: Given the size of the UK population (approximately 67 million as of 2020) and the reported 2.6 million cryptocurrency users, we estimate that about 4% of the population has engaged with cryptocurrency. With our targeted marketing strategies, we aim to reach a significant portion of this existing market while contributing to the growth of new users.