COMPE E
Zero
Traditional fee competition has reached its natural conclusion, with taker fees approaching zero across major exchanges
x2.5 +
Bernstein forecasts stablecoin market capitalisation to expand 2.5 times through 2025, driven by businessto-business payments and cross-border transactions
The traditional battleground of fee compression has reached its natural conclusion, with taker fees approaching zero across major exchanges.
This development has forced platforms to identify new competitive differentiators, leading to an emphasis on cryptographic trust primitives that eliminate counterparty risk whilst unlocking previously inaccessible market segments.
The evolution centres on three interconnected areas that are reshaping exchange competition.
Real-time solvency attestations with live proof-of-reserves have become essential as investors increasingly demand transparent verification of platform stability. Chain-agnostic settlement capabilities now allow traders to post collateral in any major asset whilst settling profit and loss
76 July 2025