Technology

Nearly 75% of retailers plan to accept cryptocurrency payments within the next 2 years

From Starbucks to Lamborghinis, consumers are using cryptocurrency to pay for a variety of goods — and retailers are taking notice. Nearly 75% of retailers plan to accept either cryptocurrency or stablecoin payments within the next two years, according to a June survey conducted by Deloitte titled “Merchants getting ready for crypto.” Deloitte polled a sample of 2,000 senior executives from the retail industry who represent a range of subsectors including cosmetics, electronics, fashion, transportation, food and beverage. While digital currencies like Bitcoin are typically only as valuable as users believe them to be, a stablecoin is a type of cryptocurrency that derives its value from an underlying asset. Stablecoins are often pegged to currencies such as the U.S. dollar or a commodity such as gold. Although paying with cryptocurrency is fairly novel now, 83% of retailers expect consumer interest in digital currencies to increase over the next year and a little over half of them have invested over $1 million into enabling digital payments, according to the survey. For consumers, that means you could soon buy clothes, drinks, beauty products and more with crypto.

Full story : Nearly 75% of retailers plan to accept cryptocurrency payments within the next 2 years.

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