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Over Half of Multinational Businesses Now Using at Least One Form of Cryptocurrency, According to New Survey

A brand new survey from monetary insights agency PYMNTS.com reveals that almost all of multinational companies at the moment are utilizing at the least one kind of crypto asset.

The examine, which explores crypto and blockchain adoption, gathered knowledge from executives of 250 cross-border companies working in a number of nations and with annual income of at the least $10 million. It additionally surveyed 250 monetary establishments (FIs) together with banks and fintech corporations.

In keeping with the analysis, cryptocurrency gives quite a few benefits to multinational companies together with diminished transaction prices and less complicated fee procedures. The survey highlights that 58% of multinational corporations use at the least one type of cryptocurrency with Bitcoin (BTC) being essentially the most extensively used at 31%. In the meantime, 29% of cross-border companies use stablecoins and 24% use Ethereum (ETH).

Supply: PYMNTS.com

The analysis additionally reveals that bigger multinational corporations are extra doubtless than their smaller counterparts to make use of digital belongings. Greater than 80% of companies producing $1 billion in annual income use at the least one kind of cryptocurrency. The determine drops to 7.7% for corporations producing between $10 million and $49 million in annual income.

As well as, 46% of companies producing $1 billion in yearly income are presently utilizing Bitcoin, adopted by Ethereum (36.8%), stablecoins (34.5%) and XRP (32.2%.).

Though multinational companies are starting to discover cryptocurrencies, monetary establishments look like behind the curve.

Says the PYMNTS analysis,

“Simply in a single in 10 FIs presently offers its B2B (enterprise to enterprise) prospects the flexibility to make use of cryptocurrency, regardless of important curiosity amongst clientele. Companies which have adopted cryptocurrency incessantly encounter friction in leveraging it as a funds device in absence of a sturdy, technical, cross-border funds resolution, but solely 4% of FIs that don’t present cryptocurrency entry to their shoppers have particular plans to take action.

PYMNTS’ analysis finds that solely 10% of FIs give their prospects any cryptocurrency entry. Bitcoin is essentially the most generally supplied (6%), with stablecoins, Bitcoin Money and Ether every at simply 4%.”

Supply: PYMNTS.com

You may learn the total report right here.

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Featured Picture: Shutterstock/kkssr

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