Visa indicates that cryptocurrencies may be going mainstream outside of North America, according to small business owners surveyed by Visa in nine countries. The survey indicates business owners in United Arab Emirates, Hong Kong, Singapore and Brazil are most interested in pursuing cryptocurrencies as a payment type:
“Small businesses outside North America are more open to accepting digital currencies, including Bitcoin, as forms of payment.
Visa found that more than 30% of small business merchants in the United Arab Emirates, Hong Kong, Singapore and Brazil plan to offer customers the option to pay using crypto in the coming months. Digital currencies have taken off in each of those jurisdictions, despite varying regulations.
In contrast, 19% of small businesses in the United States and just 8% in Canada expect to offer crypto as a payment option in 2022.”
Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group