A new study conducted by an information technology company indicates that crypto payment method adoption is primed to skyrocket in the next two years.
The Capgemini Analysis Institute surveyed customers and business stakeholders around the world to provide an evaluation of the world’s present funds landscape. The assume tank additionally combed via statistics from the Bank of Worldwide Settlements, the European Central Bank, the Worldwide Financial Fund, the World Bank, and different central banks.
Capgemini notes that lower than 10% of consumers around the world at present use cryptocurrencies for payments. Nonetheless, the analysis institute predicts almost 45% of consumers will use the rising payment method within the next 1-2 years because of the rising want for cross-border funds along with considerations about high transaction charges.
Capgemini additionally says crypto credit cards are leading the way in terms of adoption.
“Cryptocurrency market volatility signifies an absence of maturity. Nonetheless, crypto-linked cards are taking the lead within the crypto-payments space fueled by world card player initiatives to create a fertile crypto-payments ecosystem.”
The research, nevertheless, nonetheless thinks the outlook for cryptocurrencies and stablecoins is “hazy,” citing the blended reactions to crypto assets by governments worldwide. Capgemini says Russia, India, and the United Arab Emirates see potential in the adoption and regulation of crypto assets and stablecoins. In the meantime, the research notes different nations equivalent to China and Egypt have moved to ban crypto assets because of the rising risk of illicit transactions.
Read the full report here.