Crypto exchanges play a critical role in facilitating crypto adoption. Exchanges serve as the primary point of access to the crypto-economy, allowing users to exchange fiat currencies for crypto assets and stablecoins. For this reason, crypto exchanges are often referred to as “fiat on-ramps.” Unlike some other financial markets, crypto trading has historically been less geographically centralized (in contrast to London’s central role in the physical gold market, for example). There are many reasons for this, including the distributed nature of crypto networks and the high portability of crypto assets. But despite ... (full story)