Sign In  |  Register  |  About Los Altos  |  Contact Us

Los Altos, CA
September 01, 2020 1:26pm
7-Day Forecast | Traffic
  • Search Hotels in Los Altos

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Study commissioned by Zero Hash finds crypto adoption is increasing, with a movement to mainstream trusted brands

CHICAGO, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Zero Hash, the global crypto infrastructure provider, commissioned a first of its kind study with 3,000 consumers* (from the US, U.K, Brazil and Australia) and with input from eight leading industry players; Stripe, Circle, Shift4, WorldPay, Plaid, tastytrade, Tap and Brazil Crypto.

The report found despite some of the challenges of the past year, consumers have spoken loudly and clearly: they want to engage with crypto. But, with brands they know and trust, 71% of consumers now use financial services companies to engage in crypto. The boundaries between traditional finance and crypto are blurring, as consumers look to traditional companies to access Web3 products that offer greater speed, security, and flexibility.

Key highlights from the study include:

  • Existing crypto users are increasing their engagement: Three-quarters (73%) of existing crypto users maintained or increased their engagement with crypto since 2022.
  • Convergence between Traditional Finance and Crypto is accelerating: Global innovators including Stripe, Interactive Brokers, tastytrade and Shift4 have embedded crypto into their offerings.
  • Consumers are more cautious engaging in crypto with companies they have no experience with: 41% of consumers are wary of engaging in crypto with companies they have no experience with.
  • Reputation now matters more than cost: The reputation of a company is the highest ranking factor when choosing a company to engage in crypto.
  • Consumers are shifting to brands they are familiar with and already trust: 71% of consumers now use traditional financial services companies to participate in crypto.

Overall, these consumer shifts point to the conclusion that the next phase of crypto adoption will be unlocked through embedding crypto into trusted web2 brands.

Three in four crypto users have maintained or increased their engagement in crypto since 2022. Yet, their engagement has moved to mainstream brands. 80% of consumers want to use a traditional financial services company to access crypto – and 71% of crypto users already do use these types of traditional platforms to engage in crypto. Cyril Mathew, President and COO of Zero Hash commented, “ The thesis from the genesis of Zero Hash is that every traditional finance company will become a crypto company. The results of this study emphasizes consumers want to engage in crypto with traditional brands they already use and trust.”

The survey also found that when performing due diligence, the two most important factors to consumers are a company’s reputation and regulatory standards. Factors that are traditionally imperative for consumers — such as fees and simplicity of use — are now secondary to trust factors. Customers are willing to pay a premium for peace of mind, a trend we think of as a growing ‘trust premium’. John Egan, Head of Product for Crypto at Stripe commented: “It’s natural for users to respond by shifting their focus to companies that have a longer track record of operating dependably.”

Read the full report at https://zerohash.com/trust-report/

*About the survey:
Consumers were independently surveyed via Propeller Insights and answered a series of questions relating to existing engagement in crypto, confidence levels in the crypto ecosystem and behavioral changes after the events of 2022. The survey participants comprised 50% in the US and 17% in the UK, Brazil and Australia. 45% of survey participants were existing crypto users and 55% were non-crypto users.

About Zero Hash:
Zero Hash is a leading crypto-as-a-service infrastructure platform that allows any platform to embed digital assets natively into their own customer experience quickly and easily through a matter of API endpoints. Backed by investors including Point72 Ventures, Bain Capital Ventures, and NYCA, its turnkey solution handles the entire backend complexity and regulatory licensing required to offer crypto products. With a focus on high standards and regulation-forward principles, Zero Hash aims to build resilient and secure crypto infrastructure that promotes trust and confidence.

Zero Hash Holdings, through its subsidiaries, powers neo-banks, broker-dealers, payment groups as well as non-financial brands to offer digital asset trading and custody, crypto-backed rewards and round-ups programs.

Zero Hash LLC is a FinCen-registered Money Service Business and a regulated Money Transmitter that can operate in 51 US jurisdictions. Zero Hash LLC and Zero Hash Liquidity Services LLC are licensed to engage in virtual currency business activity by the New York State Department of Financial Services. In Canada, Zero Hash LLC is registered as a Money Service Business with FINTRAC.

Zero Hash Australia Pty Ltd. is registered with AUSTRAC as a Digital Currency Exchange Provider, with DCE registered provider number DCE100804170-001. This registration enables Zero Hash to offer its crypto services in Australia. Zero Hash Australia Pty Ltd. is registered on the New Zealand register of financial service providers, with Financial Service Provider (FSP) number FSP1004503. A FSP in New Zealand is a registration and does not mean that Zero Hash Australia Pty Ltd. is licensed by a New Zealand regulator to provide crypto services. Zero Hash Australia Pty Ltd.’s registration on the New Zealand register of financial service providers does not mean that Zero Hash Australia is subject to active regulation or oversight by a New Zealand regulator.

Connect with Zero Hash on LinkedIn, or visit www.zerohash.com for more information.

Contact
Shaun O’keeffe
(855) 744-7333
media@zerohash.com

Disclosures
Zero Hash services and product offerings may not be available in all jurisdictions. Zero Hash accounts are not subject to FDIC or SIPC protections, or any such equivalent protections that may exist outside of the US. 


Primary Logo

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 LosAltos.com & California Media Partners, LLC. All rights reserved.