Financial institutions (FIs) are preparing for an anticipated surge in the usage of cryptocurrency, and competition among FIs angling to underpin businesses’ cryptocurrency payments is likely to be fierce.
The Cryptocurrency Payments Opportunity, a PYMNTS and i2c collaboration, reported that while only 10% of banks are currently enabling access to at least one form of cryptocurrency, 75% of FIs plan to expand their support for virtual currencies over the next 12 months.