According to Cointelegraph, Ripple and the U.S. Fast Payments Council (FPC) conducted a survey on July 29 among 300 payment leaders from 45 countries around the world, in different industries such as fintech, banking and retail. The report shows that by 2030, blockchain has the potential to save financial institutions about $10 billion in cross-border payment costs. Driven by a 5% compound annual growth rate (CAGR), global cross-border payment traffic is expected to reach $156 trillion.
Additionally, while 50% of respondents believe that most merchants will adopt crypto payments within the next three years, confidence levels varied as to whether cryptocurrency payments will be available within the next year. Middle Eastern and African leaders expressed the highest confidence, with 27% believing that most merchants will accept crypto as a payment method within the next year.
Meanwhile, leaders in the Asia-Pacific region were least confident, with only 13% believing in the same time frame. However, 17% of the 300 leaders surveyed globally said they believed such adoption could happen within the next year.
