Ethereum co-founder Vitalik Buterin recently tweeted “People continue to underrate how often cryptocurrency payments are superior not even because of censorship resistance but just because they’re so much more convenient. Big boost to international business and charity, and sometimes even payments within countries.” A study in June 2022, predicted that the global crypto-payment gateway market is expected to grow with a CAGR of 22.8% between 2022 and 2028. Mastercard is also offering a range of cryptocurrency solutions, including the Crypto Card Program to enable crypto usage for everyday transactions. Pymnts found that 85% of businesses with over $1 billion in annual online sales accept some form of crypto-enabled payment method, such as PayPal, for purchases. 77% of the merchants that accept cryptocurrencies cite its lower processing fees for its appeal.
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