- Global crypto awareness is at record levels and investor demand for digital assets is overwhelming, according to a report by Visa.
- “We see almost universal awareness of cryptocurrency at 94% globally among adults,” the survey said.
- 37% of investors in emerging markets own cryptocurrency versus 33% in developed countries.
Global crypto awareness is at record levels and investor demand for digital assets is overwhelming, according to a recent report by Visa.
Titled “The Crypto Phenomenon: Consumer Attitudes & Usage,” the survey was conducted among 6,000 financial decision-makers aged over 18 with a household income of at least $35,000 from various regions. The survey found that crypto has gained widespread adoption, saying:
We see almost universal awareness of cryptocurrency at 94% globally among adults with discretion over their household finances. Crypto is moving from a niche asset class for a small community of investors to a broader market increasingly accessible for mainstream and new adopters.
The survey noted that while crypto is an emerging industry, it has gained significant growth. Approximately one in three users familiar with crypto own or use some form of digital assets, with 66% saying they are considering increasing their exposure to crypto within the next 12 months.
“Another 21% of crypto-aware consumers are curious about the space, have positive impressions of cryptocurrency, and are on the cusp of entering the cryptocurrency market,” the report said. Visa also revealed that crypto is much more popular in emerging markets.
More precisely, 37% of investors in emerging markets own cryptocurrency versus 33% in developed countries. The increased popularity in emerging markets is likely due to the need for a hedge against unstable fiat currency and to gain access to global markets.
Meanwhile, the biggest motives for owning and using crypto assets are wealth-building and the notion that crypto is the “financial way of the future,” according to the survey. Further, 30% of participants said they transact with digital assets to bypass conversion fees, 29% mentioned the 24/7 availability of crypto, and 23% noted the low transaction fees.
Visa Launches Crypto Consulting Service
Visa, the world’s largest payment network, has also unveiled its crypto consulting and advising services, which will offer guidance and education about various segments of the crypto industry to interested clients.
In an announcement, the giant payment network pointed out crypto’s exponential growth, noting that this brings the need for consulting services that help clients understand the industry. Visa also mentioned UMB Bank, a regional US lender, among the clients using its consulting service, adding that they are engaging with partners from various regions.
Detailing about the objectives of its new offering, Visa said that it will provide crypto consulting “for financial institutions eager to attract or retain customers with a crypto offering, retailers looking to delve into NFTs, or central banks exploring digital currencies.”
Back in August, Visa spent around $150,000 worth of ETH on a CryptoPunk NFT, continuing its expansion into the crypto and NFT worlds. Later in October, the payment network launched an NFT artist support program in a bid to further empower the creator economy.