The need to maintain low users' perceived costs (transaction fee, price volatility and compliance)

Charging no fixed cost but only a spread of the overall transaction amount

Introducing crypto-variants of traditional products/services with more favourable rates

Formation of the critical mass of users

Lower user switching intention

The capital needs for expansion

Decreasing overhead cost

Decreasing the need for owning or maintaining fixed assets

Higher scalability for long-term development

Rapidly changing environment and the cryptocurrency sector

Increasing traffic volume

Establish infrastructure with constant updates and an API for external collaborators' input

Adopting digital platforms as service frontends

Scaled-up services offering

Higher traffic volume supported

Diversified users' needs and innovativeness

Risk and price volatility of cryptocurrencies

Introducing a wide range of options, including crypto-variants of financial service options

Supporting a wider range of assets

Increased coverage of users' needs

Highly competitive landscape

The need to overcome adoption barriers

Creating a culture of innovativeness

Including ostensibly unrelated options for users' engagement

Utilising API infrastructure for external collaborators' input

A wider range of service options was launched, possibly in non-financial service contexts

The impact of regulations

Users' burden and perception of cryptocurrency-related businesses (Both legal and social)

Showing complying facets

Building a more favourable environment for cryptocurrency

Supporting users in fulfilling legal requirements

More favourable regulatory environment

Enhanced legitimacy and image of crypto-exchanges

Complex, high volatility and risky nature of cryptocurrencies

Communicating with users related to the business operations of the crypto-exchanges and market analysis

Increased user trust and confidence in cryptocurrency investment