Cryptocurrency is rapidly becoming a worldwide phenomenon, with Asia having the most users (approximately 160 million) of any region. According to Triple A, a renowned cryptocurrency payment company, global crypto ownership will reach over 3.9 percent, or over 300 million users, by 2021.
Starbucks Coffee, Booking.com, and Coca-Cola are among the over 18,000 businesses that have already began accepting cryptocurrencies as payment.
According to Triple A, 40% of customers buying with cryptocurrency in retail are new to the business, and the number of retail crypto transactions is growing at a rate of 12.5 percent per year. Luxury businesses have started to accept and use cryptocurrencies as a form of payment since it protects their brand from counterfeiting and grey markets.
Because crypto remittance is 388 times faster and 127 times cheaper than traditional methods of transferring remittances, digital remittances and cross-border transactions will reach $95.96 billion in 2020.
