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Ripple Partners with Fortress Trust and Metaco to Forge Financial Backbone for BRICS and Trillion-Dollar Payments Market

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  • 88% of global finance decision-makers foresee a substantial impact of crypto on business and finance in the coming years.
  • Over 50% of these decision-makers already have, or are introducing, a cryptocurrency solution in their firms.

Global Embrace of Cryptocurrency: LATAM in the Lead

In the global arena, the Latin American region shows the most fervent anticipation for institutional and enterprise-level crypto use, outpacing the enthusiasm shown by the Middle East and North Africa (MENA), North America (NA), Asia Pacific (APAC), and Europe, Middle East, and Africa (EMEA).

Understanding the Cryptocurrency Confidence

Out of the vast majority, a whopping 88% of financial decision-makers expect cryptocurrencies and their underlying blockchain technology to make a landmark impact on several sectors, ranging from business, finance, to societal operations, in the imminent future.

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Illustrating this, over half of these professionals have already implemented or are in the intricate process of integrating a cryptocurrency solution within their organizations. Furthermore, looking into the horizon, approximately three-quarters have expressed eagerness in delving into other innovative crypto technologies like Central Bank Digital Currencies (CBDCs), stablecoins, and Non-Fungible Tokens (NFTs).

It’s notable that the positivity towards crypto adoption intensifies among those who have firsthand experience or profound expertise with the technology. These experts often highlight core benefits such as bolstered data security, augmented automation speeds, financial adaptability, and new avenues for revenue generation.

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However, a counter-narrative still exists. Concerns like unclear regulations, volatile pricing, risk management, and privacy issues form considerable barriers to more widespread adoption.

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Tokenized Assets: The New Norm

Decision-makers universally predict a consequential impact from tokenized assets such as CBDCs, stablecoins, and NFTs across multiple spheres, including specific industry use-cases. In a comparative light to the previous year, there’s a heightened expectancy of CBDCs and stablecoins making a swifter impact.

When diving deeper into use-cases, cross-border and consumer-to-business payments are at the pinnacle for both CBDCs and stablecoins. On the flip side, the business potential of NFTs shines in contemporary domains like the metaverse and events or ticketing solutions.

Remarkably, 80% of the world’s financial leaders indicate a propensity towards integrating cryptocurrencies, CBDCs, or stablecoins into their businesses soon, even expressing more trust in cryptocurrencies over traditional currencies.

Shifting Payment Paradigms

For companies globally, user-friendliness stands out as the quintessential requirement to empower customers to transact using cryptocurrencies. Other compelling motivators for businesses to incorporate cryptocurrencies into cross-border payments are faster settlement times and a clear reduction in transactional costs.

Interestingly, the primary motivation for holding cryptocurrency is its utility as a transactional medium, followed by its perceived role as a buffer against inflationary trends.

A Positive Cryptocurrency Outlook

Despite occasional negative press, the undeterred confidence and favorability towards the crypto landscape signify its robust nature. This undying confidence is not a fleeting emotion; 77% of financial decision-makers harbor feelings of excitement, optimism, or confidence towards the crypto realm.

On the sustainability front, while it remains a pivotal concern for finance leaders, especially in banking and financial institutions, it doesn’t predominantly influence technology selection in corporate scenarios.

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Jack Williams
Jack Williams
As a Blockchain Analyst, I specialize in analyzing the performance of decentralized systems and optimizing their efficiency. Through data analysis, I provide insights on blockchain technology, smart contracts, and cryptocurrencies to help businesses make informed decisions and improve their operations.
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