Survey: Almost 58% of cross-border firms use cryptocurrencies

More than half of international companies use at least one cryptocurrency in their operations. Bitcoin is the most popular coin among those with annual turnover above $10 million.

According to the survey, conducted by news aggregator PYMNTS among the heads of 250 cross-border companies and 250 financial institutions, 57.6% of respondents use at least one cryptocurrency for international transfers. Of the 250 companies, 31.2% chose Bitcoin, 28.8% chose stablecoins and 24% chose Ethereum.

61.4% of financial institutions understand the importance of giving clients access to digital assets. However, only 10% are willing to support any type of them.

90% of financial institutions do not provide access to cryptocurrency. At the same time, 48% of respondents consider it important to establish regulatory norms to support this form of payment.

56% of cross-border enterprises use blockchain technology in their operations. For 42% its primary use remains smart contracts.

“The main role in the adoption of cryptocurrencies was the reduction of transaction costs and the simplified transfer procedures compared with traditional analogues,” the study notes.

31% of respondents cited the unproven profitability of the technology as a barrier to blockchain adoption, 29% cited concerns about data security.

Earlier, according to a November Investing.com survey, 46% of non-professional investors in Russia regard cryptocurrencies as a safe-haven asset.

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