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Will Cryptocurrencies Convert Skeptics, Gain Momentum In Business Payments in 2022?

  • 1 mth ago

Cryptocurrencies’ borderless nature, fast transaction speeds and lower costs have seen them emerge as a viable solution for businesses looking to both pay and get paid, especially when dealing with international clients and suppliers.

The advantages of using crypto for business-to-business (B2B) payments are clear — but even as the concept is becoming more mainstream, many organizations remain hesitant to adopt what they consider to be a nascent and fairly risky technology. Christophe Lassuyt, co-founder at Request Network, told PYMNTS that’s largely due to one thing: fear that stems from a lack of education.

“[Businesses] must overcome their fear of this new world where financial freedom and responsibility change the economy,” Lassuyt said. “To do so, they need to learn about the industry, understand how to start, be careful what information they trust and set up safety procedures from the beginning.”

Learning something new takes time, but it could prove to be a worthwhile investment, as Lassuyt sees a lot of demand for crypto payments in the B2B world. While startups involved in the blockchain technology space have led the charge in cryptocurrency adoption, plenty of other organizations have come to realize the advantages of digital tokens for business payments.

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