2022 RESEARCH REVEALS HIGH AWARENESS AND GROWING CROSS-BORDER USE OF CRYPTOCURRENCY IN FOUR KEY MARKETS

81% of respondents across US, British isles, Mexico, and Singapore are crypto-knowledgeable, and 45% have despatched crypto to someone in a different region

SAN FRANCISCO and LONDON, March 29, 2022 /PRNewswire/ — In a new survey introduced right now from influential blockchain firm the Stellar Enhancement Basis (SDF) and major United kingdom-based mostly crypto payments platform Wirex, final results show large awareness and growing use of cryptocurrencies for cross-border payments in four essential markets: United States, United Kingdom, Mexico, and Singapore. Driving the shift towards crypto as a payment approach is irritation with the present system, with 53% of men and women surveyed emotion they compensated way too much in charges for intercontinental remittances applying regular indicates, and 37% not even certain what they paid in service fees.

Stellar Progress Foundation Logo (PRNewsfoto/The Stellar Development Foundat)

In parallel, the study outcomes, compiled from approximately 10,000 buyers, dispel a sequence of myths about cryptocurrency recognition and usage, exhibiting awareness of cryptocurrency is larger than ever – more than 80% – in all markets surveyed.

The research reveals rising use of crypto for international remittances, particularly by individuals in rising markets. Above 50 % of respondents (52%) see crypto as a valid different to sending funds abroad utilizing classic means, and 45% have currently performed so. The important takeaways: crypto is not just for speculation and has real utility for sending funds to/from rising marketplaces.

Women’s attitudes towards crypto are increasingly beneficial. Almost fifty percent (45%) of females surveyed, and 59% of guys see crypto as a practical way of sending money overseas.

According to Denelle Dixon, SDF CEO and Executive Director, “The results validate what we have noticed in terms of developing authentic world use situations for blockchain and cryptocurrency in rising markets on the Stellar community. Individuals are adopting these new methods of sending funds cross-border as a more rapidly, less costly option to standard banking rails.”

When small awareness of crypto may perhaps have been a barrier in the earlier, the analyze shows practically all respondents had at minimum listened to of cryptocurrency. When asked why they do not use crypto, study participants cited fears of volatility (63%) and stability possibility (55%), as effectively as it becoming just also complex to use. As a result, Wirex and SDF have initiatives to enhance consciousness and schooling of enterprises and shoppers about the utility of blockchain, in particular for cross-border transactions.

Wirex CEO and Co-Founder Pavel Matveev reported, “When we printed benefits from previous year’s report, we observed a great appetite for the information, but it also elevated even more inquiries. In this year’s report we went further in our analysis by focusing far more on users’ banking and crypto habits and attitudes throughout a mainstream populace. The increase in recognition of cryptocurrency is only the starting. We see massive alternatives in DeFi, multi-currency customers, and cross-border remittances.”

Exploration scope: The report analyzed information from nearly 10,000 contributors in a late 2021 survey, which includes responses from general shopper audiences in 4 different markets: the United States, United Kingdom, Mexico, and Singapore. Responses were being analyzed on proportions of geography, employment position, gender, and age.

About Wirex
Wirex is a throughout the world digital payment platform and regulated institution that has cast new rules in the digital payments room. In 2015, the firm designed the world’s first crypto-enabled payment card that gives people the capacity to seamlessly spend crypto and conventional currencies in authentic life.

Founded in 2014 by CEOs and co-founders Pavel Matveev and Dmitry Lazarichev, Wirex was developed to make the electronic financial state accessible to all people. With more than $5bn value of transactions processed presently and fast enlargement into new territories, such as the US, Wirex is uniquely positioned to help and advertise the mass adoption of a cashless culture via inventive methods. To reflect the progress of the metaverse, all through 2021, the company has continued to increase their presenting into the CeFi and DeFi sectors. For far more info, make sure you check out wirexapp.com

About Stellar
Stellar is a decentralized, fast, scalable, and uniquely sustainable network for economic products and solutions. It is both equally a cross-forex transaction system and a platform for digital asset issuance, designed to link the world’s economic infrastructure. Economic establishments globally challenge belongings and settle payments on the Stellar network, which has developed to in excess of 6 million accounts. For extra information and facts, go to stellar.org.

About the Stellar Growth Foundation
The Stellar Advancement Foundation (SDF) is a non-revenue organization that supports the development and expansion of Stellar, an open-supply network that connects the world’s fiscal infrastructure. Launched in 2014, the Foundation assists keep Stellar’s codebase, supports the specialized and small business communities setting up on the network, and serves as a voice to regulators and institutions. The Basis seeks to produce equitable obtain to the world wide financial system, utilizing the Stellar network to unlock the world’s financial opportunity by way of blockchain know-how. For extra info, stop by stellar.org/foundation.

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Source The Stellar Growth Basis