Can you still imagine how time passed so fast, pushing technology fast forward? It seems like a magic wand was waved, and the days just slipped through time lapse. Web3 and crypto adoptions have grown exponentially, with a massive increase in new cryptocurrencies and their use cases. Governments, businesses, and institutions are accepting cryptocurrencies, including stablecoins, for payments. But that’s a well-known thing. The real example of crypto deeply living in the lives of common or small-scale business owners is that of an elderly woman selling eggs and accepting not cash, but Bitcoin! An awe-inspiring news that would make many of us think how well crypto is making an impact in our day-to-day life.
Leading companies accepting crypto payments
Adding to the latest list, Abu Dhabi’s Tawasul taxis are now accepting payments in AE Coin, the UAE’s stablecoin, a benchmark move driving crypto adoption in the country to the moon. Mastercard and Chainlink announced their plans to enable 3.5 billion cardholders in the world to directly purchase crypto on-chain. PayPal is also high in performance as it allows users to buy, sell, hold, and spend several cryptocurrencies.
Stablecoin dominance is on hype following governments and institutions welcoming its robust use cases. E-commerce giants Walmart and Amazon are on the verge of issuing their own stablecoins, whereas telecommunication company AT&T, in partnership with BitPay, accepts crypto payments.
With GENIUS Act of the US in place, reports indicate that there will be more stablecoin adoptions, since these coins are pegged to fiat currencies and are faster, cheaper, and non-volatile.
Gucci is already on the trend. The luxury fashion brand has been accepting Ape Coin in 70% of its US boutiques. Sharjah’s very own airline, Air Arabia, is not an exception. It is heading to accept crypto payments, in partnership with Al Maryah Community Bank.
Crypto is not just for big players!
An eye-opening news comes from Costa Rica, where a small-scale vendor is selling eggs and accepting Bitcoin for payment. A video has been trending on social media platforms where a customer scans the QR code on the vendor’s phone to pay for eggs. This could be a great move for the vendor to leap more into crypto.
Costa Rica is also home to ‘Bitcoin Jungle’, an ecosystem that enables small businesses like fruit and vegetable stalls, cafes, and artisanal shops to accept Bitcoin payment via the Lightning Network. The slum street of Kenya’s Kibera sells vegetables, but the vendors there accept Bitcoin as payment, as per reports! And, nearly 200 people in the place use Bitcoin.
What could be fueling this wider crypto acceptance? Obviously, a clear regulatory framework, faster transactions, and lower fees, particularly with stablecoins, are making crypto more alluring! When you have clear and understandable rules on how to use an app or gadget, you feel more relaxed. Similarly, when you have good crypto rules, you dive into it. It is as simple as this.
As more big eyes are looking to expand crypto’s use cases, it is time to wait for more services to implement crypto adoption. The time has moved far from the old reality that crypto is for hodlers; instead, it is becoming a gem in our daily life needs.
