Awareness of Crypto is High, but Trust needs to be built Mastercard Research Finds

Quick takes from Mastercard’s Global New Payments Index: 

  • Crypto payments are rising in popularity across the globe, 

93% of those surveyed have heard of cryptocurrency 

  • 41% have done at least one crypto-related activity in the past year 
  • Consumers are still looking for more stability within the industry 

Interest in crypto has skyrocketed the past few years. Around the globe, people are adopting crypto currencies as the number of transactions have climbed.  

But there’s still a long way to go in terms of education to deepen understanding of currencies and the underlying technologies that make them work. Additionally, people want more established organizations, including governments and banks, involved in digital currency transactions to help build trust — which will be crucial if crypto payments are going to continue to rise.   

Mastercard’s 2022 New Payments Index, a global survey of more than 35,000 respondents, found broad awareness of cryptocurrencies. Payments made using crypto almost doubled in the last year.  

The New Payments Index found that around 40% of global consumers interacted with crypto over the last year, with some 30% opening a crypto wallet, trading currencies (27%) or holding them as investments (29%). Around half of global consumers agree they are interested in other uses of crypto like making payments for everyday products (51%) or buying digital assets (49%). Younger users are adapting digital currencies more quickly than older generations.