Why were Crypto Payments Introduced?

Adekunle Joshua

Digital innovators introduced crypto payments as a new way to conduct secure and decentralized transactions

Established payment providers initially remained skeptical about the technology's potential

Crypto payments gained momentum due to the increasing demand for contactless and online payment methods

The COVID-19 pandemic accelerated the adoption of digital payments and sparked an appetite for fast and flexible transaction options

A leading card network survey revealed that the population is open to embracing new payment methods, including cryptocurrencies

Crypto payments offer benefits such as transparency, immutability, and lower transaction fees, attracting a substantial proportion of users

The use of cryptocurrencies for cross-border payments is gaining ground, disrupting the traditional remittance industry

Crypto payments contribute to enhancing the overall efficiency of payment systems and driving financial inclusion.