Due to the ongoing growth of digital assets in numerous nations worldwide, crypto is now widely used. According to a recent poll, more than half of Mastercard’s users use digital assets in their daily lives. According to the poll, most of the aforementioned users were based in Latin America. The research, however, emphasizes that there could be a variety of causes for the consumption of the assets through the roof. Inflation and other economic issues are one such explanation.

A Mastercard survey suggests significant stablecoin adoption

There has long been a prevalent perception that some countries have not been able to adopt digital assets. However, the most recent Mastercard poll found that despite the widespread use of these assets, most consumers are not paying close attention to these areas. Latin America is one such continent at the top of the adoption food chain.

More than half of the respondents to the Mastercard study said they had recently used cryptocurrency for payments or purchases. Furthermore, over half of the populace used stablecoins to complete their transactions, which is an encouraging statistic. The Payment Index conducted earlier this year also revealed a resurgence of interest in digital assets throughout Latin America.

Crypto usage in Latin America is anticipated to increase

Users are optimistic that more individuals will eventually be persuaded to join the cause, given the quick adoption rate. In addition, digital assets are expected to perform well, according to 54% of respondents, which will persuade more people to buy them. The poll also supported the claim that consumers have at least transacted with a certain digital asset over the previous year. This metric demonstrates that they have surpassed their fellow citizens from other regions of America throughout the same period.

However, this has been attributed to Latin America’s standard payment procedures in other areas of the continent. A senior executive from Mastercard chimed in and said that consumers in the Latin American region already understand and are embracing the future of payments. The CEO predicts that the trend will continue and that patronage might reach 95% in the upcoming year. Users in the continent have been introduced to alternative payment methods besides cryptocurrency. But according to the Mastercard survey, most respondents would prefer a simpler payment mechanism..

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