According to new research by global payment network, Mercuryo, over one third of UK finance businesses are now using blockchain to facilitate payments, as demand for innovation soars.
“We’re seeing increased levels of demand from customers looking for providers that can offer them both fiat and crypto services,” comments Petr Kozyokov, co-Founder and chief business development officer, Mercuryo. “In just a few years, I predict crypto and fiat payments will reach an equilibrium, with consumers able to easily pay via whichever payment type they choose.”
This demand is reflected in recent news that Visa is launching its own crypto consulting service to help clients navigate the world of cryptocurrencies. With fintech’s clambering to harness crypto technology, key market players such as Revolut are already looking at building their own crypto exchange to broaden their offering, signifying a potential new era for the mass adoption of digital currencies within the financial services landscape.
Given the ever-increasing interest in blockchain, 55% of businesses see cryptocurrency as the future of payments, says Mercuryo. A further 20% are considering adoption of crypto payments within the next three years; citing advantages such as “innovation”, “confidentiality”, “security” and “faster transactions”.
Established in 2018, Mercuryo now has over a million users and 200+ B2B partners in its portfolio, including Bitfinex, Bithumb, ByBit, Binance, Trezor, Trust Wallet, and 1inch.