According to the latest report, Bitcoin adoption among merchants is expected to increase by 50% in the next three years. This result is from a survey conducted by Ripple and Faster Payment Council, which involved 300 payment leaders in 45 countries.
A Growing Interest In Bitcoin Payments Globally
The report indicated that blockchain technology has emerged as an alternative to costly payment systems in recent years. Transaction volumes have increased remarkably in the crypto industry, with more than 5.5 million crypto payment users in the U.S. alone in 2023.
The top four use cases of crypto payments include remittances, cross-border B2B payments, card payments, and digital payments. Remittances take the lion’s share of this, with foreign workers taking to crypto to avoid high transaction fees when sending money home to their families.
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