Crypto Adoption Is Becoming Mainstream, Says Checkout.com Report

Crypto Adoption Is Becoming Mainstream, Says Checkout.com Report

Global payments provider Checkout.com debuted its Demystifying Crypto: Shedding light on the adoption of digital currencies for payments in 2022 report, pointing to increasingly positive trends in the adoption of and appetite for using digital currencies for eCommerce.

The comprehensive report independently surveyed a total of 30,000 consumers and 3,000 merchants in 11 countries including the UAE, looking at behaviors and sentiments regarding commercial activity using cryptocurrencies.

According to the findings, crypto is rapidly gaining in appeal among younger demographics in particular, with 40% of 18-35 year old consumers globally wanting and planning to use cryptocurrencies to pay for goods or services within the next year.

That’s up from less than 30% last year, and marks a substantial shift in attitude from digital currencies being seen as solely an investment vehicle to a means of doing business on a regular basis.

In the UAE, over 54% of 18-35 year old consumers either hold or plan to hold crypto assets in the next 12 months.

This increased consumer openness to cryptocurrency is driven by broader appetite for more convenient, safer payment methods.

That is then matched by more merchants and third parties providing the underlying infrastructure to support those methods.

Within the UAE specifically, 54% of those aged