Ripple Highlights Growing Role Of Cryptocurrency In Payments

According to Odaily, Reece Merrick, Managing Director for Ripple in the Middle East and Africa, emphasized the increasing significance of cryptocurrency in the payments sector in a post on X on Monday. He referenced insights from Ripple's 2024 New Value Survey, which involved nearly 2,000 leaders from global financial institutions and enterprises, including over 200 respondents from the UAE, Saudi Arabia, and Turkey. Merrick revealed that the most frequently mentioned application of blockchain technology among respondents from the Middle East and North Africa was enabling customers to make payments using blockchain-based currencies, cited by 52% of participants. The second most noted focus was accepting blockchain-based currency payments, highlighted by 47% of respondents. Additionally, Merrick pointed out the growing interest in the digital asset market, with 42% of respondents prioritizing the buying, selling, and trading of other types of digital assets, such as tokenized securities or real-world assets (RWA).