Also the fact that the most of the currencies are considered as an asset class, the use of these to buy goods is still very limited.
This may be be a tactical solution, but in the long term, definition of money has to be stabilized. It could mean that #cryptocurrencies have some sort of #regulations to protect the interests of consumers or probably use of more stable digital currencies like #cdbc.
Nuvei, a Canadian payments company is launching “crypto” debit card, that will let the customers use their cryptocurrencies in all locations where Visa is accepted(in Europe and UK). Mastercard, PayPal and many other big payments players have been involved in similar initiatives lately. Meta is building something entirely next level with is Novi Financial application.
I believe this is a very interesting trend, #cryptocurrencies are still considered a sort of store of value to convert into “real money”, fiat !.
Visa and Mastercard along with the large crypto exchanges have collaborated to offer various types of cards to allow consumers to use cryptocurrencies, most of these have been more of a “me too” initiative, and with the industry being a bit slow, not a lot of traction has been achieved.