Financial institutions in the UK believe that crypto will be mainstream within a decade

90% of financial institutions in the UK believe that cryptocurrencies will see mainstream adoption in less than a decade, according to the results of a new global survey released today.

This means that UK companies are the most confident in crypto across Europe, ahead of countries like France and Germany.

The first Bitstamp CryptoPuls survey – a new, comprehensive global survey analyzing confidence and acceptance of crypto around the world – also shows that around 70% of institutional respondents in the UK – including banks, fintech companies and trading platforms – currently believe in crypto products. 67% are actively recommending crypto investments to their clients.

Data from 28,450 respondents – 5,450 senior institutional investment strategy decision makers and 23,000 retail investors from 23 countries across 23 countries across North America, Latin America, Europe, Africa, the Middle East – came from a bitstamp survey. , And Asia-Pacific.

The survey found that worldwide, 80% of institutional respondents believe that crypto will surpass traditional types of investments such as stocks, shares and ISAs. Most organizations are already likely to recommend crypto as an asset class, while 71% of institutional respondents have “high confidence” in crypto as an investment.

More than 1,000 consumers in the UK voted more than that 40% will use cryptocurrency to buy their groceries and everyday items as well as shop online. In addition, almost half of consumers in the UK believe that cryptocurrencies will outperform current currencies in the next decade.

However, there is still a clear need for education on crypto investing in the UK, with almost half (45%) of non-investors in the UK saying that the main reason they do not invest is because they do not know enough about it, and only 18% of respondents say they are very knowledgeable about cryptocurrency. .

Julian Sawyer, CEO of Bitstamp“Acceptance of crypto and other digital assets is advancing at an unprecedented rate Over the past few years, cryptocurrencies have found themselves at the forefront and center of mainstream investment from outside the financial ecosystem, with many of the world’s largest trading venues now meeting crypto demand, both retail and institutional. We have seen an increase in interest in the years since the epidemic, and crypto is now part of a broader discourse on global macroeconomics. Our survey shows something that we have long supported: The end of talking about the survival of digital resources is firmly in place – the question now is about evolution. ”

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