💻Industry Overview

The preceding half-decade has witnessed an unprecedented expansion in cryptocurrency transaction volumes, with aggregate activity rising sixfold. This exponential growth trajectory signals a sustained upward momentum, portending an imminent global institutionalization of digital assets. The concurrent advancement of Central Bank Digital Currencies (CBDCs) serves as compelling evidence that sovereign nations recognize the imperative to modernize legacy financial infrastructure. While CBDCs diverge materially from decentralized cryptocurrencies—principally in their centralized governance architecture—their proliferation underscores a fundamental paradigm shift currently underway within the global monetary system. Upon achieving widespread international adoption, the integration of CBDCs with conventional cryptocurrencies within unified digital wallet ecosystems is anticipated to become standard practice.

110+ countries already working on CBDCs At present, the crypto payments landscape remains predominantly shaped by stablecoins issued by industry-leading entities such as Circle, Tether, and Paxos, complemented by select regional market participants. Notably, stablecoins have demonstrated daily turnover volumes that exceed Bitcoin's by 27%. Throughout 2023, this differential expanded substantially, with stablecoin settlement volumes reaching $18 billion compared to $10 billion across the top 20 cryptocurrencies combined—representing an 80% premium. The market's pronounced preference for stablecoin-based settlements derives from their intuitive value proposition, broader merchant acceptance, negligible price volatility, and reduced transaction costs. In essence, stablecoins function as an optimal bridge instrument, synthesizing the principal advantages of both digital and fiat currencies: universal acceptability, a reliable unit of account, fungibility, and efficacy as a medium of exchange. While small and medium-sized enterprises continue to evaluate the merits of accepting cryptocurrency, major global brands—particularly in the luxury and premium segments—have embraced digital asset payments with conviction. Their strategic rationale is both straightforward and compelling: alignment with the forward-thinking ethos of the digital asset ecosystem while extending accessibility to a demographic that has generated substantial wealth through cryptocurrency investments. This proactive commercial engagement constitutes indirect yet meaningful validation of the considerable long-term potential inherent in cryptocurrencies and their transactional applications.

a few examples of global brands that adopted crypto payments Nevertheless, adoption rates vary markedly across enterprise segments. At the same time, prominent multinational brands have seamlessly integrated cryptocurrency payment capabilities, but small and medium-sized businesses have yet to fully appreciate the operational and commercial advantages of digital asset transactions. Market research indicates that only a modest fraction of global enterprises currently use cryptocurrency payment gateway infrastructure, leaving approximately 18% of solvent potential clients commercially underserved. More strikingly, more than 96% of companies worldwide do not currently accept cryptocurrency payments—a statistic that underscores the substantial untapped market opportunity. This pronounced disparity highlights a significant addressable market for the broad adoption and use of cryptocurrency payment solutions across enterprises of all sizes.