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Crypto Payments Gain Traction.pdf

Crypto Starting to Realize its Promise in Payments.pdf

Preview of Crypto Payments Gain Traction

🔗 Source: fs.hubspotusercontent00.net

📊 Size: 603 KB

👤 Author: Dan Carr

⬇️ Downloads: 51

Summary

- Crypto's market capitalization grew by 188% in 2021, reaching ~$3 trillion, driven initially by its 'store of value' utility.
- Bitcoin, the first cryptocurrency, failed to gain traction as a payment method due to volatility, slow transaction speeds, and lack of acceptance.
- Newer cryptocurrencies (e.g., Solana), stablecoins (e.g., Tether, USDC, Dai), and CBDCs are driving crypto payments' growth.
- Drivers of crypto as a 'medium of exchange' include stablecoins, NFTs, DeFi, traditional PSPs' investment in crypto, and regulatory clarity.
- Current crypto payments primary use case is fiat on/off-ramping via exchanges, with emerging merchant segments like NFT marketplaces and GameFi.
- Crypto payment volumes are estimated at €0.5 trillion, with C2B fiat on/off ramps accounting for 95%.
- Expect rapid growth in the next 12-18 months, particularly in C2B and cross-border C2C payments.
- Growth drivers include mainstream PSPs, new blockchain applications (NFTs), card schemes, regulators, CBDCs, and Web 3.0 platforms.

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Description

Crypto's 2021 market cap surged 188% to $3T, shifting from 'store of value' to 'medium of exchange' in payments.

Technical Information

File Format: PDF
File Size: 603 KB
Pages: 6
Language: EN
Author: Dan Carr
Total Downloads: 51
Last Updated: 1 month ago

Document Overview

This PDF document about Crypto Payments Gain Traction provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into Crypto Payments Gain Traction.