Cryptocurrency payments hold up despite harsh and merciless crypto winter

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Lloyds saw a 23 per cent rise in crypto scams reported by customers in the first nine months of 2023 compared to the same period last year.
Lloyds saw a 23 per cent rise in crypto scams reported by customers in the first nine months of 2023 compared to the same period last year.

Crypto payments have remained stable in the first half of this year, according to new research shared with Morning Wire today.

Compliance platform Deel said that cryptocurrency payment remained stable at 5 per cent of all global payments withdrawn monthly from the platform.

In comparison, in the second half of last year 2 per cent of all payments were taken in crypto, representing the growing demand for crypto.

Crypto payments are particularly popular in places with currency volatility, with countries in LATAM and EMEA more inclined to accept payment in crypto.

In those regions, they are accounting for a 67 per cent and 24 per cent share of all global crypto payment withdrawals.

Bitcoin is the most popular coin type, at 47 per cent, followed by USDC at 29 per cent.