On May 23, Ripple released a report titled “New Value Report” addressing crypto trends especially in finance. The study showed that the vast majority of global financial leaders are optimistic about the future of crypto. This is no doubt due to the trends and use cases that have highlighted the usefulness of cryptos.
Financial players have great confidence in the crypto industry
The crypto market has demonstrated its strength, in particular by progressing despite the crisis. Also, according to Ripple’s new report, global finance leaders are brimming with excitement about the prospects for cryptos. It appears that confidence in the new industry has increased over the past six months. More than 90% of these players believe that cryptocurrencies will have a great impact on business and society in the next 3 years. Thus, they didn’t want to let a few bad crypto players destroy their long-term confidence in the industry.
Ripple’s report also noted that 79% of financial leaders expect crypto solutions to be integrated into their business. More than three-quarters of respondents would like to explore crypto-related technologies, such as NFTs and stablecoins, in the next few years. Additionally, financial players with experience in using cryptos were more confident. They believe these can drive real business value now and in the future.
Payments: an excellent method of adopting cryptoassets!
The report reveals that crypto payments are one of the most mature use cases for the technology. During the study, 44% of global financial leaders argued that crypto-asset adoption would be primarily driven by payments. At the same time, digital assets would help in the acceptance of payments.
“More than half of global payments managers consider accelerated payments to be the primary value proposition for integrating crypto into cross-border payments, while 50% of global treasury managers believe cost savings are a more pressing advantage”, explains Ripple’s report.
The world’s outlook on cryptoassets is mixed. Some argue that cryptos pose a threat to financial stability. Meanwhile, others see the new industry as a formidable weapon against recession, especially in Germany.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of daily and weekly so you don’t miss any of the essential Tremplin.io!
