News | Industry Updates


Growing awareness and cross-border use of cryptocurrency


In a new survey from influential blockchain organisation the Stellar Development Foundation (SDF) and UK-based crypto payments platform Wirex, results show high awareness and growing use of cryptocurrencies for cross-border payments in four key markets: United States, United Kingdom, Mexico, and Singapore. Driving the shift towards crypto as a


payment method is frustration with the existing system, with 53% of people surveyed feeling they paid too much in fees for international remittances using traditional means, and 37% not even sure what they paid in fees. In parallel, the survey results, compiled


from nearly 10,000 consumers, dispel a series of myths about cryptocurrency awareness and usage, showing awareness of cryptocurrency is higher than ever – over 80% – in all markets surveyed. The research reveals growing use of


crypto for international remittances, especially by consumers in emerging


markets. Over half of respondents (52%) see crypto as a valid alternative to sending money overseas using traditional means, and 45% have already done so. The key takeaways: crypto is not just for speculation and has real utility for sending money to/from emerging markets. Women's attitudes toward crypto are


increasingly positive. Nearly half (45%) of women surveyed, and 59% of men see crypto as a viable way of sending money overseas. According to Denelle Dixon, SDF chief


executive and executive director: "The results confirm what we have seen in terms of growing real world use cases for blockchain and cryptocurrency in emerging markets on the Stellar network. Consumers are adopting these new ways of sending money cross-border as a faster, cheaper alternative to traditional banking rails." While low awareness of crypto may have


been a barrier in the past, the study shows nearly all respondents had at least heard of cryptocurrency. When asked why they don't use crypto, survey participants cited fears of volatility (63%) and security risk (55%), as well as it being just too complicated to use. As a result, Wirex and SDF have initiatives to increase awareness and education of businesses and consumers about the utility of blockchain, especially for cross-border transactions. Wirex chief executive and co-founder Pavel


Matveev said: "When we published results from last year's report, we saw a great appetite for the information, but it also raised even more questions. In this year's report we went deeper in our research by focusing more on users'


6 | vendinginternational-online.com


banking and crypto habits and attitudes across a mainstream population. The rise in awareness of cryptocurrency is only the beginning. We see huge opportunities in DeFi, multi-currency users, and cross-border remittances." The report analysed data from nearly 10,000


participants in a late 2021 survey, including responses from general consumer audiences in four separate markets: the United States, United Kingdom, Mexico, and Singapore. Responses were analysed on dimensions of geography, employment status, gender, and age.


Share your memories


The family of vending stalwart Paul Beard whose career has spanned decades in the industry are calling for any former colleagues to get in touch as Mr Beard is now unexpectedly in severe health. His son, David Beard, said he would


love to hear from former colleagues who have any memories/stories or those who remember his father, now 75. Mr Beard senior, who is married with


two sons is originally from Kingston Upon Thames but in the late 1970s the family moved to West Sussex. He has previously worked for GKN


Sankey Vending, Panda Soft Drinks and Image Catering to name a few. Most recently he worked for Vendhall / Vendo (UK) as senior service engineer, before he retired in 2006. Mr David Beard can be contacted at


dbeard50@hotmail.com


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28