34% of UK finance companies now making crypto payments, Mercuryo revealed

34% of UK finance companies now making crypto payments, Mercuryo revealed

BUSINESS | Dec 18, 2021 | WOZINGA NEWS

34% of UK finance companies now making crypto payments, Mercuryo revealed

  • Mercuryo are seeing a rising demand from consumers searching for providers who can provide them with both fiat and crypto services.

By Elah Mae Ariate Wozinga Staff

Over one third of UK finance businesses are now using blockchain to facilitate payments, as demand for innovation soars, according to new research by global payment network, Mercuryo.

Fintech’s striving to leverage crypto technology

“We’re witnessing rising demand from consumers searching for providers who can provide them with both fiat and crypto services,” says Petr Kozyokov, Mercuryo’s Co-Founder and Chief Business Development Officer.

“I believe that in a few years, crypto and fiat payments will reach an equilibrium, with customers able to easily pay using whichever payment option they like.”

This need is reflected in the recent announcement by Visa that it will develop its own crypto consultancy service to assist clients in navigating the world of cryptocurrencies.

With fintech’s striving to leverage crypto technology, important industry players such as Revolut are already considering developing their own crypto exchange to widen their offering, heralding a potential new era for the widespread acceptance of digital currencies inside the financial services environment.

55% of businesses see cryptocurrency as the future of payments

According to Mercuryo, 55 percent of businesses consider cryptocurrency as the future of payments, because to the growing interest in blockchain.

Another 20% are considering adopting cryptocurrency payments within the next three years, citing benefits such as “innovation,” “confidentiality,” “security,” and “faster transactions.”

Mercuryo, which was founded in 2018, today has over a million users and 200+ B2B partners in its portfolio, which includes Bitfinex, Bithumb, ByBit, Binance, Trezor, Trust Wallet, and 1inch.

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