Crypto payments use cases worldwide, as perceived by central banks in 2022
Central banks estimated that cryptocurrency was barely used as a means for payment by either consumers or businesses in 2022. This is according to a survey held at the end of that year, which asked central banks on what developments they noticed within their jurisdictions regarding CBDC or cryptocurrency. A new question in 2022 covered the use of stablecoins and cryptocurrency in day-to-day payments, excluding potential investments or use within Decentralized Finance (DeFi) such as NFTs. All central banks, regardless of geography, estimated that cryptoassets apart from stablecoins – Bitcoin, Ethereum, etc. – are not used at all for payments. The source adds that stablecoins saw a similar trend, meaning both stablecoins and cryptocurrency only were considered popular among “niche groups” or “trivial” and mainly were used for remittances and not much else.