Most of American Retailers Consider Crypto Payments In Next 2 Years
10 Juni 2022 - 12:00PM
NEWSBTC
According to a recent study, over 75% of US retailers hope to
support stablecoin and crypto payment options within the next two
years. Deloitte, a UK-head quartered consulting and financial
advisory company conducted research on 2,000 chief officers of
small-scale American companies and just recently published the
results. The study occurred between December 3rd and 16th when
the digital asset values were trading high. It also showed that
over 50% of institutional retailers valued at $500 million and
above are putting in nothing less than $1 million to develop all
required infrastructure to make crypto services available. Study
Reveals More Than Half Of US Citizens Anticipate Crypto Payments
According to the report, a team-up with payment giant PayPal,
Deloitte revealed that executives from various industries all had
the same intentions. From digital products, fashion, cosmetics,
electronics, hospitality and leisure, household and personal
products, services, and even transportation. Related Reading
| U.S. Macro Pressure Responsible For Entire Bitcoin Downtrend
More than 85% of the officials polled stated they would soon be
facilitating crypt payments in their industries within the next
five years. Besides that, the research showed that cryptocurrency
adoption also boomed; over one-quarter of the total polled company
officials supported the adoption of crypto. This figure is
anticipated to leap to about three-quarters by the end of 2022.
Customers Are Increasingly Adopting Crypto Payments The research
also revealed that SMEs (small and medium enterprises) were
involved in the poll; more than 73% of the traders were worth about
$10 million to $100 million and invested between $100,000 to $1
million to offer crypto trading in the platforms. Deloitte stated
that this cryptocurrency investment wouldn’t be short-lived. The
company even projects the spending to rally through 2022. Over 60%
of retailers explained that their budgets for facilitating
cryptocurrency are anticipated to rise to about $500,000 through
2022. While performing a market survey, customer interests are at
the heart of the study. And more than 64% of companies said
positive things about their customers supporting crypto adoption.
Thus, there are also expected to facilitate crypto payment options.
Almost half of the polled senior executives observe that digital
asset adoption will enhance their consumer experience. And another
similar percentage is optimistic that it will boost their client
base. About 40% said it will further develop their brand as
“cutting edge.” American Retailers Expect To Consider
Cryptocurrency Payments The survey reveals that many companies seek
to collaborate with crypto platforms to provide these services to
customers. With digital currency solutions offered, they believe
their several thousands of clients will be able to perform instant
transactions rather than waiting for other payment gateways to
verify payments. Related Reading | Bitcoin Miner Revenues Stay
Low As Price Decline Continues Lastly, Deloitte released a report
highlighting some challenges companies would face in crypto
adoption. The firm explained that, regardless of the positive
appearance of the adoption, it will encounter three main problems.
These challenges include shifting legislation, platform security,
and the high volatility of the DeFi market. Featured image from
BBC, chart from TradingView.com
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