Cryptocurrencies’ global adoption continues apace with research showing eCommerce demand
At the ongoing 2022 Bitcoin conference held in Miami, global payment provider Checkout.com released a new report regarding the adoption of digital assets. The document titled “ Demystifying Crypto: Shedding light on the adoption of digital currencies for payments in 2022 ” was quite enlightening. It revealed a growing positive trend of crypto adoption and an increasing appetite for using crypto for eCommerce transactions.
The study was conducted between Feb. 2 and Mar. 1, 2022. Checkout.com interviewed over 30,000 customers and 3,000 merchants across 11 countries for the research. The respondents hailed from the US, the UK, France, Spain, Italy, Germany, the UAE, Saudi Arabia, Hong Kong, Singapore, and Australia. Data Shows Growing Appetite For Crypto Payments Among Millennials
According to the report, consumers have a growing appetite to make payments for their goods and services using crypto. About 40% of 18 to 39-year-olds indicated that they intend to make payments using crypto in 2022. This further substantiates the popularity of digital assets among gen Zs and millennials.
On the merchant side of the two-faced eCommerce coin, 77% of merchants who support payments in digital assets saw increased cross-border sales. Furthermore, 23% of online businesses said they plan to integrate crypto payments before 2024, while 36% of CFOs surveyed would like to settle charges in stablecoins. Key Takeaways Source: Checkout.com’s Demystifying Crypto: Shedding light on the adoption of digital currencies for payments in 2022 report
Other interesting data from the study can be seen in the chart above. The eCommerce sector is already feeling the effects of crypto, as Visa’s (NYSE: V ) crypto-backed card processed over $2.5 billion in payments in Q1 2022. Also, 51% of companies reportedly said some of their employees had shown interest in receiving their salaries […]
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