Only five percent of surveyed South African crypto-asset financial service providers (FSPs) are generating revenue between $8 million and $10 million. The Financial Sector Conduct Authority study found that many of the crypto asset FSPs “earn their revenue from trading fees.”
Only 10% of FSPs Derive Income From Both Regulated and Unregulated Financial Services
According to findings of a crypto market study conducted by the South African financial services industry watchdog, approximately 46% of the crypto asset financial service providers generated revenues equivalent to between $53,000 and $2.68 million. On the other hand, 38% of the crypto asset FSPs said they received revenue of less than $53,000. Only five percent are generating revenue between $8 million and $10 million.
The data shows that only five per cent of the FSPs generate revenues between $8 million and $10 million. Out of all the FSPs that responded substantively to the regulator’s information request, 10% derived t
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