Crypto payments will boom this year as 1 in 4 businesses plan to accept the crypto payments, according to a new survey conducted by payment giant VISA. VISA executives commented that more people are feeling confident with crypto.
Crypto payments will boom this year:
Wider adoption of crypto has been seen in the last two years. The Crypto market has become a market of more than 2 trillion dollars in just 12 years. What happens in 2022 is yet to be seen. But, payment giant VISA has conducted a survey in December 2021. The firm has included more than 2000 small businesses with more than 100 employees. These businesses are located in Brazil, the USA, Canada, Hong Kong, Ireland, Singapore, UAE, and Russia.
This survey shows that crypto payments will boom this year as 1 out of 4 businesses plans to accept crypto payments this year. VISA explained this in their report by saying:
Of those surveyed, 24% said they plan to accept digital currencies such as the cryptocurrency bitcoin.
The firm also noted that 82% of these businesses plan to accept some digital option in 2022 and 73% see accepting a new form of payments as fundamental to their business growth. The executive added that people are feeling more confident with crypto. In December, Visa launched crypto advisory services. Moreover, Visa’s head of crypto recently revealed that the company has partnered with 60 cryptocurrency platforms to let consumers spend digital currency at 80 million merchants worldwide.
Read more here.