Fintech company Lunu, which is developing a payment ecosystem based on stablecoins, believes that the number of cryptocurrency holders could triple over the next two years. According to analysts, almost 7% of the world’s population already owns cryptocurrencies. Is it possible for the number of cryptocurrency holders to increase exponentially over such a period of time? How could this happen? And is the acceptance of payments in digital assets on a massive scale merely a matter of time?
The adoption of cryptocurrency is indeed expected to accelerate over time as its real-life applications increase. Digital assets should be easy to use: buy, sell, conduct transactions and purchase goods and services. As soon as there are more mechanisms for processing payments, and their acceptance points become more widespread, the number of cryptocurrency users will also increase.
In order for cryptocurrency payments to be accepted, a developed infrastructure will be needed, including in terms of storage and movement of capital. It should be rapid, safe and inexpensive. Once these requirements are met, consumers will begin to drive progress.
Mass acceptance of FX payments may be a matter of three to five years, provided that retail spending on financial movements is reduced.