According to a Mastercard poll, 51% of consumers in the region have transacted using cryptocurrency. This is due to the digital payments revolution that got started during the epidemic, which is increasing interest and use.
Additionally, according to Mastercard’s New Payments Index 2022, which was performed between March and April among more than 35,000 people worldwide and published on Wednesday, more than a third of respondents indicated they have made a purchase using stablecoin.
In its second edition, the study shows that financial innovation — cryptocurrencies, DeFi solutions, blockchain, NFTs — registers significant activity in the region, with consumers eager to learn more about the ecosystem.
Executive vice president for products and engineering, Mastercard Latin America and the Caribbean said:
“Increasingly, Latin Americans are turning to technology to conduct their financial transactions and this trend is expected to continue to rise, with an overwhelming 95% planning to use a digital payment method in the coming year and 29% acknowledging having used less cash in the past year”
Two-thirds of customers in Latin America desire more flexibility to use cryptocurrencies and conventional payment methods interchangeably, and 54% of consumers surveyed are positive about the performance of digital assets as an investment.
82 percent of consumers in the area who were polled stated they would prefer it if their present banking institution offered features connected to cryptocurrencies.
The survey also revealed that if cryptocurrencies were produced or supported by a reliable entity, consumers would feel more comfortable investing (69%) and sending/accepting payments (67%) in them.
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