Within a year or two, the share of consumers using cryptocurrencies in transactions will rise from the current 10% to 45%. Such a forecast is contained in the report by Capgemini.
The study is based on results of surveys of 6,300 customers and 210 payments-system executives across 44 different regions worldwide. Analysts also studied data from the Bank for International Settlements, IMF, the World Bank and central banks.
Consumers will increasingly use cryptocurrencies alongside invisible payments, biometrics, and BNPL payments.
The driver of the mainstreaming of digital assets will be the growing need for cross-border payments and a reluctance to pay high transaction fees. Experts also pointed to businesses’ adoption of cryptocurrencies as a payment option, citing Coca-Cola, PayPal and Yum Brands as examples.
According to the researchers’ estimates, credit cards backed by digital assets are leading in adoption speed among other instruments. They attributed this to ‘initiatives by card issuers aimed at creating an efficient ecosystem for cryptocurrency payments’.
Experts warned that the outlook for the development of cryptocurrencies and stablecoins remains uncertain amid unclear regulatory responses from authorities around the world.
On October 1, the number of users of El Salvador’s state cryptocurrency wallet Chivo reached 2.73 million. Bitcoin’s legalization in this country accelerated the development of the Lightning Network, according to Glassnode. Arcane Research projected that the number of protocol users would exceed 700 million by 2030.
In October, Bakkt cardholders gained the ability to spend Bitcoin through Google Pay.
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