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Crypto remittances see adoption, but volatility may be a deal breaker
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Cryptocurrency adoption has been growing for a number of reasons. In emerging markets, research suggests crypto remittances are a factor, although some argue that the idea of using cryptocurrencies for these transactions is nothing more than a purist’s dream.
The CEO of cryptocurrency derivatives trading platform BitMEX, Alexander Höptner, predicted earlier this month that by the end of next year, at least five countries will have accepted Bitcoin (BTC) as a legal tender, as crypto assets can be faster and cheaper for remittances.
He believes that all five will be developing countries and that they would adopt cryptocurrencies because of the growing need for cheaper and faster cross-border transactions, increasing inflation and growing
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