50% of Payment Firms See Merchants Embracing Crypto Settlements Within 3 Years

According to most participants crypto could become a widely used payment method in the near future and lower settlement costs. A joint study conducted by Ripple and the Faster Payments Council (FPC) estimated that more than half of the surveyed leaders of payment firms think most merchants will accept cryptocurrencies.

More than half of the 300 respondents think global merchants will say “yes” to crypto payments in the next three years. Participants in the Middle East and Africa are more bullish: 27% believe this will happen in the next 12 months. Latin Americans seem the most bearish, with 67% predicting this to occur more than three years from now. The vast majority of respondents (97%) believe cryptocurrencies and blockchain technology will have a “significant or very significant” role in enabling faster transactions in the next 36 months. They also claimed digital assets could transform cross-border settlements.


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