- 76% of financial firms expected to use cryptocurrencies in the next three years.
- As per the financial organizations, crypto is an effective fence against inflation.
The leading crypto solutions provider, Ripple has a recent forecast on crypto adoption among financial organizations. According to Ripple, in the next three years, about 76% of financial institutions and enterprises are expected to shift to digital asset usage. Crypto adoption will provide numerous benefits to financial firms, as per Ripple’s latest study.
The study states:
For both financial institutions and enterprises, the number one event that would lead their organization to seriously consider including cryptocurrency in their portfolio is widespread use for payments, with the related use as a bridge currency coming in third, and the value of crypto as a hedge of one sort or another coming in the middle of the pack.
Enormous Adoption of Digital Assets
Based on Ripple’s study, there are multiple reasons behind the organization’s crypto deviation. They declared that cryptocurrencies will act as a hedge against inflation. Additionally, it is a suitable currency for making payments and will be used as an asset for lending. The speedy peer-to-peer transaction widened the broader crypto adoption among financial institutions.
Ripple’s study shows more enterprises are already welcoming digital assets and the remaining will adopt them in the upcoming years. They believe that digital assets can create a massive impact on the financial landscape. According to them, cryptocurrencies can provide equity, more business opportunities, and additional revenue sources.
Even though financial enterprises and companies are facing challenges in crypto adoption such as fraud and scam activities in crypto, regulation, and price volatility. The current bearish condition of the global crypto market may also slow the crypto acceptance among financial institutions.
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