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Statista reported that by September 2024, the number of crypto currencies is closed to 10,000. However, it’s worth noting that many of these crypto currencies may not be particularly relevant or active. Statista also notes that other sources estimate that there are about 20,000 crypto currencies in existence, though most of these are either inactive or have been discontinued. As of early November CoinMarketCap, a leading cryptocurrency data aggregator that tracks prices, market cap, and trading volume, lists 9,916 cryptocurrencies, while CoinGecko, another popular crypto data platform shows 15,142 crypto currencies. Thanks to easier access to blockchain technology, even those with basic coding knowledge can launch their own cryptocurrency. Platforms like Ethereum allow developers to create tokens without needing to build their own blockchain from scratch.

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Global financial messaging network SWIFT is expected to trial live transactions of digital currencies and tokenized assets in 2025, making a step towards wider adoption of blockchain-based finance,as per Reuters report. As 90% of the world’s central banks looking to explore digital currency options, SWIFT’s new platform which is expected to launch within the next one to two years is aiming to integrate the CBDCs into the financial ecosystem.

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