A white-label crypto exchange development is a ready-made platform customized with your branding, offering a fast and cost-effective way to enter the cryptocurrency market. It provides benefits like quicker time-to-market, reduced development costs, and built-in security and compliance. However, it comes with challenges such as limited customization, reliance on the provider for updates, and potential scalability issues. Ideal for startups, it's a practical solution for launching an exchange quickly while balancing budget and business goals.