The Lack of Regulatory Clarity Is the Biggest Barrier to the Adoption of Crypto-Enabled Payments!
A recent survey co-hosted by Ripple found that the global payments sector is optimistic about the potential of cryptocurrencies and blockchain to enable faster and cheaper transactions. Blockchain-based digital payment network Ripple and payment organization Faster Payments Council (FPC) released a report on March 2 on the capabilities of crypto-enabled payments. The report, titled “Transforming the Way Money Moves,” provides insights into global crypto payments trends based on a survey sent to over 950 FPC subscribers, including analysts and CEOs from 45 countries. 281 people took part in the survey, answering 25 questions about the use cases and advantages of blockchain payments as well as the ownership and usage issues with digital assets.
Fieldwork for the survey was conducted during the first half of 2022. The majority of respondents (97%) in the survey, or nearly all FPC subscribers, thought that blockchain technology and cryptocurrencies would play a big part in enabling faster payments in the next three years. Over 50% of payments executives surveyed believe that most merchants will be accepting crypto payments within one to three years. The majority of retailers will be cryptocurrency-friendly by 2024, according to 27% of Middle East and African executive respondents.
Source: www.Pipsafe.com – The Lack of Regulatory Clarity Is the Biggest Barrier to the Adoption of Crypto-Enabled Payments!
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