CryptocurrencyDeFiPress Release

Drofa Comms: E-Commerce and Luxury Tourism to Lead 2023 Crypto Payments Adoption Trend

Luxury and travel industries, as well as e-comm, are expected to lead in the crypto payment adoption rate in 2023. This is one of the findings from the latest “Crypto Mass Adoption in Payments: Outlook for 2023” report, published by the global PR consulting agency Drofa Comms in partnership with top-ranked B2B and B2C crypto payment firms.

Founded in 2011, Drofa Comms is a PR firm for eminent finance and fintech brands. With an HQ in London, UK, Drofa Comms boasts a compelling portfolio of high-profile clients in the finance and fintech sectors, including commercial and investment banks, AMCs and AIFs, trading platforms, exchanges, payment solutions, and blockchain companies.

The latest Drofa Comms report is based on in-depth interviews with C-level executives of leading crypto payment firms – CoinsPaid, Mercuryo, and Sesame. As part of the regular research on the future of decentralised finance, the interviewees answered several questions on the main barriers to mass crypto adoption, its geography, and industries leading in crypto payments acceptance.

The results revealed that the APAC and LATAM users are jumping on a crypto adoption train, with a significant proportion of their population remaining unbanked and facing restricted access to financial services. Worth noting is that Singapore and the UAE are actively enabling the development of crypto payments, establishing a favourable regulatory framework for cryptocurrencies.

However, global legal oversight and insufficient bridging between traditional and decentralised finance are seen as the main barriers to mass crypto adoption, according to interviewees. Moreover, underdeveloped user experience (UX) design and a lack of accessible crypto education stand as one of the primary obstacles hindering merchant adoption of crypto payments.

“It is anticipated that 2023 will serve as a transitional year for the entire industry with emphasis on establishing a proper crypto regulatory framework and rising opportunities for institutional investors boosting crypto adoption,” – says Masha Balanovich, External Communications Manager at Drofa Comms, “The research participants likewise note that leveraging a decentralised infrastructure for fiat-to-fiat transactions will become a major trend at the forefront of crypto payments adoption in 2023.”

More on current trends in crypto payments that will shape the future of the industry in years to come in the full report available on Drofa Comms website.


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