The latest crypto payments study, conducted by Ripple and the Faster Payments Council, shows that Latam merchants will take more time to implement cryptocurrency-based payments.
, a U.S. membership-based organization, shows that Latam merchants will take more time to implement cryptocurrency-based solutions when compared to other regions. The paper, which seeks to understand and measure the impact that cryptocurrency will have on the payments arena in the future, shows that other regions will have the edge in the area even with Latam’s difficulties regarding inflation and fiat currency devaluation.
Latam falls behind other regions like Europe and APAC, which also enjoy more favorable predictions for the massive implementation of cryptocurrency payments.The survey presents a favorable panorama for crypto payments, viewed by leaders in the industry as a way of complementing the legacy payments system. The new blockchain-based system presents several advantages, including reduced process complexity, lower costs, and enhanced transparency, according to the report.
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