Bankchain Briefing: ‘We’re thrilled to dispel the myth that crypto is just for men’ – SDF’s Denelle Dixon
- This week, we examine research that shows the growing awareness, ownership, and use of crypto for cross-border payments.
- We also look at the beta version of Coinbase’s long-awaited NFT marketplace.
Although the crypto market has been turbulent for the last several months, that doesn’t seem to have deterred its growing adoption.
A recent report published by crypto payments firm Wirex and the Stellar Development Foundation shows the growing awareness, ownership, and use of crypto for cross-border payments in the US, UK, Mexico, and Singapore.
The survey results – compiled from nearly 10,000 consumers across these four countries – show that crypto awareness and ownership continues to grow, with 81% of respondents saying they are aware of cryptocurrencies, and 39% saying they currently own or have owned crypto at some point.
The research also demonstrates the growing use of crypto for international remittances, particularly in emerging markets. Over half of respondents (52%) see crypto as a valid alternative to sending money overseas using traditional methods, and 45% have already used crypto to send money to another country.
Driving the shift towards crypto as a cross-border payment method is frustration with existing systems, with 53% of people surveyed feeling they paid too much in fees for international remittances using traditional means, and 37% not knowing how much they paid at all.
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