Wirex and Stellar Development Foundation have partnered up to unveil brand new research into cryptocurrency. The findings identify real-world use cases for cryptocurrency and help develop more relevant crypto products that address consumer needs and pain points.
What's The Report About?
Over the past six months, these two have conducted exhaustive surveys into their userbases to understand spending habits, attitudes towards crypto, and currency use. They have documented these insights in an easy-to-understand, 20-page report. The report contains "never seen before" info about the overall digital economy.
What Insights Are Provided In The Report?
The analysis provided in the report comes at a pretty critical time, with institutional interest in crypto higher than ever before. It provides brand new insights into cryptocurrency usage across different age groups, genders, and countries. As per the findings:
- 74% of respondents view crypto payments as a viable fiat alternative
- Only 25% of people have heard of the term "stablecoin" before.
The report also challenged certain commonly held beliefs that suggest that age and security are no longer a barrier to crypto adoption.
- 57% of respondents were aged 45 and over,
- 86% of people said that they felt safe using crypto.
Wirex and Stellar React To The Research
The Wirex-Stellar partnership began in early 2019 when Stellar Lumens (XLM) launched on the Wirex platform. Regarding their research report, Wirex CEO and Co-Founder Pavel Matveev said:
"It's clear that crypto is a considerably under-researched area, and it's vital that we better understand it to be able to produce products that rival the traditional economy and address users' concerns. At Wirex, we have always believed that the benefits of crypto can offer a viable alternative for payments in the future, and the findings of this report definitely underpin this."
Stellar Development Foundation's CEO and Executive Director, Denelle Dixon, added:
“To foster greater participation in the global financial system, it is important that people understand how to access services and what options are available to them to spend and save money. Traditional cross-border payments are costly and take time to settle, but it doesn't have to be this way. Our research will help us get a glimpse into the pain points people experience with international transactions and highlight opportunities where blockchain and crypto can be part of the solution."
Over the next few months, Stellar will be releasing a series of articles on the Wirex blog. These articles will feature insights, thoughts and comments regarding the report's findings from various persons of interest. Both Wirex and Stellar also plan to conduct extensive research into other audiences to add more to their report.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.