Crypto Adoption
Report: Morocco Central Bank Discusses Crypto Regulation Best Practices With IMF and World Bank
The Moroccan central bank is currently holding talks with multilateral lending institutions and other central banks, centered on establishing cryptocurrency regulation best practices. Inevitable Adoption of Cryptocurrencies The Moroccan central bank governor, Abdul Latif Al Jawhari, has said his institution is currently in discussion with the International Monetary Fund (IMF) and the World Bank, about […]Crypto Exchange FTX Partners With AZA Finance ‘to Expand the Adoption of Web3 and Digital Currencies in Africa’
Sam Bankman-Fried’s FTX is partnering with AZA Finance to expand the use of digital currencies and Web3 in Africa. Through this arrangement, the two companies will also work to “onboard African NFTs and artists onto the FTX NFT marketplace.” Bolstering Adoption of Web3 and Crypto in Africa Hong Kong-based cryptocurrency exchange FTX recently announced the […]Congo Based Startup Jambo Raises $7.5 Million in Seed Funding Round
A Congo-based Web3 app developer, Jambo, recently said it raised $7.5 million in a seed funding round. According to a report, the startup’s successful seed round is the latest by an Africa-based firm that is working towards developing Web3. Startup’s Partnership With Social Media Companies Jambo, the Congo-based developer of a Web3 app, has raised […]Crypto in Early Stages of ‘Hyper Adoption Phase’: Banking Giant Wells Fargo
American banking behemoth Wells Fargo says the current state of cryptocurrencies is comparable to the internet in the mid-to-late 1990s. In a new special report, the financial giant advises patience for investors looking to jump into the still maturing crypto space. “For today’s investor trying to figure out if we are early or late to cryptocurrency […]
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African Web3 Startup Raises $6.45 Million in Pre-Seed Round, Serena Williams’ Investment Firm Participates
An African startup, Nestcoin, said it raised $6.45 million in a pre-seed funding round in which tennis’ star, Serena Williams’ Serena Ventures took part. The startup, which was launched in November 2021, plans to use the capital raised to educate, build and invest in web 3.0 applications. Facilitating Crypto Adoption Nestcoin, a Nigerian startup that […]Goldman Sachs Warns Bitcoin Increasingly Vulnerable to Fed Rate Hikes as Mainstream Adoption Grows
Global investment bank Goldman Sachs has warned that bitcoin is increasingly vulnerable to the Federal Reserve’s rate hikes as the cryptocurrency grows more widely adopted. “Over the last two years, as bitcoin has seen wider mainstream adoption, its correlation with macro assets has picked up,” the Goldman analysts explained. Goldman Sachs Warns Bitcoin Increasingly Vulnerable […]The Real Crypto Adoption Is Happening in These Sectors, According to Ava Labs Chief John Wu
A senior executive at the tech firm building the Avalanche smart contract platform is optimistic that the crypto industry will continue to enjoy growth and adoption. Ava Labs president John Wu says in a Fox Business interview that cryptocurrency adoption is growing despite a recent report by payment processor BitPay revealing that the Bitcoin (BTC) […]
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Opensea Acquires Dharma Labs, Co-Founder Is Named New CTO
Opensea, one of the biggest NFT marketplaces globally, recently announced it is acquiring Dharma Labs. The price is believed to be between $110 million and $130 million. As a result of the new agreement between the two companies, Nadav Hollander, a co-founder at Dharma Labs, will become the new chief technology officer (CTO) at Opensea. […]Visa survey shows that 24% of SMBs plan to accept crypto payments
Crypto holders want to use their assets to shop and stores around the globe are starting to take heed.
Back in 2021, a study showed that there is a high demand for cryptocurrency payment abilities among both crypto holders and non-holders. However, in the same study, 50% of participants noted that there are not enough businesses that accept crypto. This may change very soon.
Almost one out of four small and mid-size businesses (SMBs) that participated in a survey by Visa said that they are planning to accept payments in cryptos like Bitcoin. In the same study, 73% of respondents stated that accepting new forms of digital payment options is a key factor that will affect business growth in 2022.
2,250 small business owners located in nine countries including the UAE, Hong Kong, the United States, and Canada participated in the study. Among these respondents, 82% said they plan to implement a form of digital payment option in 2022.
The survey also included a consumer section where 1,500 adults across nine markets participated. In this section, more than half of the respondents expressed that they are expecting to go completely cashless within 10 years. 41% also indicated that customers had abandoned a purchase in physical stores where digital payments were not available.
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 expressed that they want the option to pay in crypto when booking at Airbnb.
While the majority of businesses are still figuring out crypto payments, a restaurant in Florida already went all in. Crypto-themed restaurant Crypto Street accepts payments in all digital assets including meme coins and “shitcoins.”