A recent survey found that 75% of US retailers plan to support crypto and stablecoin payments within the next 2 years. Deloitte is a UK-based consulting and financial advisory firm that conducted research among 2,000 American chief executives. The results were published just recently by Deloitte.
This study was conducted between December 3 and 3.Rd16Th when the digital asset values were trading high. This also revealed that more than half of the institutional retailers worth $500 million or above have invested at least $1 million in infrastructure development to enable crypto services to be made available.
A Study reveals that more than half of US citizens anticipate receiving crypto payments
A Deloitte-Paypal team up revealed that different industry executives had identical intentions. Digital products include fashion, electronic products, digital cosmetics and electronics. They also cover hospitality, leisure, personal and household products.
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Over 85% of officials polled said they will soon facilitate crypt payments within their industry in the next five year.
The research also showed that crypto adoption is on the rise; more than one quarter of all polled executives supported cryptocurrency adoption. The figure will rise to three quarters by 2022.
Increased adoption of crypto payments by customers
Research also showed that SMEs (small- and medium-sized enterprises) participated in the poll. More than 73% of traders had a net worth between $10 million and $100 million, and they invested $100,000 to $1,000,000 to trade in crypto on the platforms.
Deloitte stated that this cryptocurrency investment wouldn’t be short-lived. Deloitte projects that spending will rise to $500,000 by 2022. More than 60% said that their funds for cryptocurrency are expected to grow to around $500,000 in 2022.
Customer interests play a key role in market research. Plus than 64% stated that they were happy to see their customers adopt crypto. It is expected that crypto payment options will also be available.
Nearly half the senior executives polled believe that digital asset adoption can improve their customer experience. A similar proportion of respondents believe it will help increase their client base. About 40% said it will further develop their brand as “cutting edge.”
American Retailers Will Consider Cryptocurrency Pays
According to the survey, many businesses are interested in collaborating with cryptocurrency platforms to offer these services to their customers. They believe that their many thousands of customers will be able instantly transact with digital currencies rather than having to wait for payment gateways to confirm payments.
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Deloitte published a report outlining the difficulties companies will face when adopting cryptocurrency. The company explained that despite the appearance of adoption being positive, the firm will face three main challenges. These problems include changing legislation, platform security, high volatility, and deflation of DeFi markets.
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