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As early as 2021, research shows Cryptocurrency payment power is in high demand by cryptocurrency holders and non-holders alike. However, in the same study, 50% of participants indicated that not enough businesses accept cryptocurrencies. This may change soon.
Almost a quarter of Small and Medium Businesses (SMBs) participated polls According to Visa, they plan to accept payments in cryptocurrencies such as Bitcoin. In the same study, 73% of respondents said that accepting new forms of digital payment options is a key factor affecting business growth in 2022.
2,250 small business owners from nine countries including the UAE, Hong Kong, the US and Canada participated in the study. Of these respondents, 82% said they plan to implement a digital payment method in 2022.
The survey also includes a consumer segment with 1,500 adults from nine markets participating. In this section, more than half of respondents said they expect to be completely cashless within 10 years. 41% also said customers have given up shopping in brick-and-mortar stores where digital payments are not possible.
related: Wall Street Financial Advisor LionTree Explores Crypto Payments
The demand for crypto payments is not limited to small businesses.In a recent Twitter poll by Airbnb CEO Brian Chesky, users said they wanted Option to pay in crypto When booking on Airbnb.
While most businesses are still researching crypto payments, Florida restaurants has gone all out. Crypto Street, a cryptocurrency-themed restaurant, accepts payments in all digital assets, including meme coins and “shitcoins.”
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