Ripple Report: Crypto Payments to Save $10 Billion, Speed Up Transactions by 2030

In a report released by the US Faster Payments Council and Ripple, the transformative potential of crypto-enabled payments has been thoroughly examined. The report, titled “Transforming the Way Money Moves,” offers a comprehensive analysis of the current state of cryptocurrencies in the payment ecosystem, highlighting key trends, challenges, and opportunities.

Rapid Adoption and Interest

The report reveals that interest in crypto payments is surging across industries, with nearly 300 payments leaders from 45 countries participating in a global survey conducted by Ripple and the Faster Payments Council (FPC). A staggering 97% of providers believe that crypto-enabled solutions are essential for speeding up sluggish payments markets, both domestically and internationally.

In the United States, crypto payment adoption is forecasted to reach 5.5 million users in 2023, a 350% increase in just three years. Major payment infrastructure providers like PayPal and Stripe have already embraced crypto, supporting bitcoin and other mainstream cryptocurrencies.

Environmental and Regulatory Challenges

While the report paints a promising picture of crypto’s future in the payments landscape, it also acknowledges significant challenges. Environmental concerns associated with blockchain use are recognized by 98% of respondents, with a clear understanding of the difference in impact between proof-of-work and proof-of-stake protocols.

Regulatory clarity remains a primary hurdle for crypto adoption, with almost one-third of participants citing this as the exclusive barrier. The recent framework released by President Biden in the US is seen as a positive step towards regulation, but more work is needed to foster widespread acceptance.

Potential for Cost Reduction

One of the standout findings of the report is the potential for significant cost reduction through crypto-enabled payments. The use of blockchain technology in cross-border transactions could lead to an estimated savings of $10 billion by 2030. Stablecoins for cross-border payments have been noted to be up to 80% less expensive for the end-user, and digital currencies like the digital rupee in India could reach 15-17% savings on each tender.


The “Transforming the Way Money Moves” report offers valuable insights into the rapidly evolving world of crypto-enabled payments. With a focus on innovation, cost reduction, and global adoption, the report serves as a roadmap for stakeholders navigating this complex landscape.

The collaborative effort between Ripple and the US Faster Payments Council underscores the growing recognition of crypto’s role in transforming the financial industry. As the industry continues to evolve, the insights from this report will likely guide future developments, shaping the way money moves in the 21st century.

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Fireblocks Debut Crypto Payments Engine After Successful Trial With

Multi-billion dollar crypto infrastructure services provider, Fireblocks is officially launching its crypto payments engine as it seeks to expand its broad influence in the space.


The new payment engine is specifically designed for merchants, and the launch was fueled after the successful trial of the engine with

The pilot test with has seen as much as $1 billion settled by the duo, giving the confidence that the service is mass tested for the broader payment industry. As confirmed by Ran Goldi, Fireblocks’ vice president of payments, the service is “Token Agnostic” which means merchants will be able to choose any type of digital currencies they wish to support.

Fireblocks’ is commencing the payment service with FIS’s WorldPay, one of the biggest payment processing companies in the world. As an infrastructure service provider that was built to support massive scaling, the Fireblocks payment solution is well-suited for the global payment ecosystem.

Fireblocks’ primary business offering did not initially include payments, but this notably became the new focus for the company when it completed the acquisition of First Digital, a stablecoin processing firm. As reported by Blockchain.News at the time, the acquisition was valued at $100 million.

According to Goldi, the new service will prioritize stablecoins for now except merchants choose their preferred digital currencies to support. The reason for this conservative embrace is because of the regulatory difference across jurisdictions.

Many merchants are beginning to warm up to the prospect of accepting digital currencies as payments. Infact, several surveys have confirmed that the majority of supermarkets, retailers, and payment processors have either laid out strategies to accept crypto as payments or are in the process of doing so.

With Fireblocks’ new venture into the space, the company will now be competing with existing payment processors in the space including but not limited to BitPay and CoinPayments.

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BigCommerce Partners with BitPay & Coinpayments to Enable Crypto Payments for Merchants

BigCommerce on Thursday announced a strategic partnership with cryptocurrency providers BitPay and CoinPayments to deliver crypto payment solutions to BigCommerce merchants in select countries.

With BitPay and CoinPayments, a NASDAQ-listed e-commerce platform can accept a variety of cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, Bitcoin Cash, Shiba Inu, Wrapped Bitcoin, Litecoin, XRP, and five US dollar-pegged stablecoins such as Binance USD (BUSD), Dai stablecoin (DAI), Gemini dollar (GUSD), USD Coin (USDC), and Pax Dollar (USDP).

By expanding its crypto ecosystem, BigCommerce opens up opportunities for its merchants to offer more payment options, widen its market share, tap into a new customer base, and accelerate international growth through innovation.

Marc Ostryniec, Chief Sales Officer at BigCommerce, talked about the development: “Expanding our crypto ecosystem to include trusted best-of-breed partners is just one step towards driving innovation and growth for our merchants. A new era of consumers are passionate about transacting using crypto, and we’re helping them do it.”

Helping Retailers Navigate a Changing Payment Landscape

E-commerce platforms accepting cryptocurrency are steadily increasing, an evidence that the crypto market continues to grow. The use of cryptos for online shopping has shown parallel expansion.

BigCommerce has joined a number of other e-commerce platforms that have been adding crypto payment capabilities over the past few years.

In May this year, Shopify expanded crypto payment options through a partnership with so its merchants can accept cryptocurrency payments from customers through Pay.

Last month, a Shopify Competitor called Launch Cart enabled its merchants to accept Bitcoin payments using OpenNode and the Lighting Network.

With the growth of global acceptance of cryptocurrency, many online merchants have adopted crypto payments to remain in the trend.

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Florida Warns Residents About the Rise of Auto Warranty Scammers Asking Crypto Payments

The Florida Department of Agriculture and Consumer Services (FDACS) has issued a notice warning local residents to take caution against fake auto-warranty calls that trick them into scams.

The regulator, which is an executive department of the government of Florida, on Friday warned local residents on how they can identify robocall scams marketing auto warranties.

In the recent past, consumers have raised complaints against increasing robocall scams — wherein scammers use pre-recorded calls to market and sell fraudulent services. Such cases prompted the Federal Communications Commission to order phone companies to stop letting scammers use their telecom networks for auto-warranty scams.

Such auto-warranty scams often trick consumers into giving up their personal information and executing fraudulent deals.

Some fraudsters pretend to represent auto manufacturers or car dealers, but in the real sense, they are not. And they claim to offer extensive “bumper-to-bumper” coverage, which turns out to be far more limited than what they are saying.

·     Many drivers have fallen victim to “auto warranty” scam robocalls. Sometimes, callers can sound legitimate because they know the age or make and model of a customer’s car.

·     Irrespective of the methods used by scammers to contact potential victims, the FDACS issued a newsletter that highlighted five red flags that indicate scams.

·     Immediate action required: a call or letter says it is urgent for a customer to take immediate action to continue his or her car’s warranty coverage.

·     False claims: an outside company offers to extend the factory warranty, something only the vehicle’s manufacturer can do.

·     Imposters: scammers may imply they work for a particular vehicle manufacturer for a prominent or trusted company.

·     Request personal information: requests for a customer’s social security number, driver’s license, or credit card information are signs of scams.

·     Payment type: if a user is asked to pay with a gift card or cryptocurrency, it is a scam.

Besides asking Florida residents to avoid making crypto payments, the regulator emphasized that no government officials would ask for personal information like their Social Security or credit card numbers.

The FDACS added: “Only scammers will require one of those kinds of payment, and once you send the money, you probably won’t get it back.”

Regulators Enforcing Cryptocurrency Crackdowns

Scammers impersonating well-known companies or prominent individuals like Elon Musk have been on the rise.

Last year, impersonators of Tesla CEO Elon Musk stole at least $2 million from crypto investors in so-called giveaway scams.

The theft was part of a so-called giveaway scam, whereby con artists pose as celebrities or known figures in the crypto world. They promise to multiply the cryptocurrency that investors send, but pocket the funds instead.

Crypto scams have been on the rise as Bitcoin’s popularity attracts new investors eager to profit. In the recent past, state regulators launched cracking down on fake crypto investments.

In November last year, attorneys general in Massachusetts and New York issued fines and cease and desist orders to stop bogus crypto firms from conning customers.

The Texas State Securities Board also issued a cease and desist order against a fake company that the regulator said was fraudulently offering crypto mining investments.

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Luxury Fashion Firm Farfetch Begins Accepting Crypto Payments

British-Portuguese online luxury fashion retail platform, Farfetch has announced it will begin accepting cryptocurrency payments for its goods and services in the next couple of months.


The company, currently trading publicly on the New York Stock Exchange said the crypto payments feature will first be introduced to its private clients in the next couple of months.

Expansion of the crypto payments flexibility will be expanded to all customers before the end of this year with immediate access to customers in the United States, the United Kingdom, and Europe. Other countries will follow shortly afterward.

The London-headquartered company said initial payments will be in seven major digital currencies including Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) amongst others. 

The crypto payments capabilities will be made possible with the active partnership with Lunu, a global crypto payments platform that will provide POS terminals at all of Farfetch’s locations as well as the payment gateway for those shopping online.

“FARFETCH launched cryptocurrency payments in two very distinct environments – the mono-brand boutique, with Off-White, and the multi-brand boutique, with Browns. This was a crucial step to test and learn, and we are excited to share our technical and service know-how with our community,” José Neves, Founder, Chairman, and CEO, FARFETCH. “As a platform company, we are continually innovating to serve as the bridge for the luxury industry to new technologies and environments where the luxury customer is today, and where they’ll be tomorrow. With this move, we look forward to empowering our incredible boutique and brand partners to embrace cryptocurrency.”

Farfetch will not be the first, nor will be the only luxury fashion brand to embrace crypto payments. Gucci made the plunge back in May when the company confirmed it has started accepting crypto payments beginning with customers in its North American stores. Gucci had a slightly more expanded range of crypto it accepts including Shiba Inu and Dogecoin.

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Spanish LaLiga Side Espanyol to Accept Crypto Payments Next Season

The Spanish football club Espanyol is breaking the record as the first LaLiga side to accept cryptocurrencies as a form of payment for some of its services.


Beginning next season, fans of the football club will be able to buy tickets, food and merchandise with Bitcoin (BTC), Ethereum (ETH), SNACK, and other altcoins.

This new allowance is made possible by the firm’s recent partnership with Crypto Snack, a growing iGaming token and an ideal partner for traditional sports franchises and other businesses. 

The partnership comes in the form of a sponsorship deal and according to Mao Ye Wu, CEO of RCD Espanyol, the deal “offers huge advantages both on and off the pitch, and for both Pericos and all soccer fans who visit our fantastic facilities. With this step, we become pioneers in a field that is not the future, but already the present.”

The partnership showcases the growth in the sports ecosystem and the relationship with digital currency outfits across the board. The partnership between Espanyol and Crypto Snack is billed to open the exchange to a whole new opportunity that can broaden its emergence into new markets.

Crypto Snacks CEO Stuart said:

“The partnership opens the club up to a whole new marketplace and allows Espanyol fans a fun, efficient way to support their team through the use of SNACK and other cryptocurrencies. For Crypto Snack, the chance to partner with a club that views cryptocurrencies as the future was very special. RCDE understands the value of not just SNACK, but the whole crypto community.”

Apart from, which has been named as the official exchange partner of FIFA at the forthcoming World Cup competition in Qatar, Algorand has also been tapped as the official blockchain protocol that will help the body develop its digital strategy. With the link between crypto entities and the football world expanding, we can expect the two worlds to grow closely knitted together in the near future.

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Bulgaria to Introduce Crypto Payment Options

For a country currently not in the Eurozone, Bulgaria plans to introduce a government-backed digital currency payment initiative “in short to medium term.”

According to a Bloomberg report, citing Assen Vassilev, Bulgaria’s deputy prime minister for EU Funds and minister of Finance, the government is currently in discussion with industry stakeholders and the Bulgarian National Bank concerning the crypto payment initiative. 

With the European Central Bank (ECB) planning to develop the Digital Euro Central Bank Digital Currency (CBDC) for the countries using the Euro, Bulgaria will not be beneficial from this CBDC use in the short term. However, the country currently has the pact to join the Eurozone in 2024, during which it will switch from its currency, the Lev, to Euros. The government is taking more proactive steps to bolster its financial ecosystem with the crypto payment program.

Bulgaria is not really amongst the most popular and renowned crypto-focused countries. Still, it ranks as one of those with the largest Bitcoin assets under custody. Back in 2017, the country seized 213,519 Bitcoins from an underground crime network at the time of the bull run that year. With little known about the seized funds, no one knows for sure if the country has auctioned these coins or is still HODLing them.

Many countries are embracing Bitcoin and digital currency initiatives in diverse ways. While China has succeeded in banning all crypto-related transactions from its shores, El Salvador is all bullish on digital currencies. It has been accumulating the digital currency at every opportunity of a price dip.

The move by Bulgaria to implement crypto trading in the short to medium term will likely push the Balkan nation to favor Bitcoin and altcoins usage across the board. Whatever the scope of its crypto program is, the country will likely have to fast-track its plans before it joins the Eurozone in 2024. 

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Based On A Twitter Poll, Airbnb Users May Get Crypto Payment This Year

Brian Chesky, CEO of Airbnb has hinted that the popular travel home-booking company may soon accept crypto payments based on a recent Twitter poll.

Chesky Says Users Want Crypto

A growing number of businesses are making crypto payment available to their customers. However, some businesses are taking an unusual approach to cryptocurrency adoption.

The #1 feature users are requesting in 2022, according to Airbnb CEO Brian Chesky, is the feature to pay for bookings in cryptocurrencies.

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“If Airbnb could launch anything in 2022, what would it be?” Chesky tweeted over the weekend.

Two days later, he revealed the list of the the top six suggestions out of roughly 4,000 received.

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Clear pricing displays, a guest loyalty program, updated cleaning fees, more long-term stays and discounts, better customer service, and “commercial spaces (kitchens, co-working)” are among the other top proposals. The CEO of Airbnb specifically confirmed that the company is looking into commercial spaces, saying:

“Already working on most, will look into others now.”

Some governments ban foreign transfers, according to one person who suggested crypto. As a result, he relies on digital currencies. “We are looking into this.” Chesky replied.

In the travel sector, Airbnb maintains an online marketplace. There are already over 5.6 million listings worldwide, according to the company’s website. Airbnb has served over 1 billion clients since its inception in 2007, and over 4 million hosts have listed their properties on the marketplace.

In most countries, Airbnb accepts Visa, Mastercard, American Express, and JCB as payment methods. Also accepted are Apple Pay, Google Pay, and Paypal. Airbnb presently does not accept cryptocurrency as a payment method.

Airbnb will join the ranks of Tesla and AMC, among others, in accepting cryptocurrency as payment if the popular recommendation is implemented.

BTC/USD slumps to $42k. Source: TradingView

Related article | IPO Windfalls from Airbnb Could Boost Bitcoin: DCG CEO

Airbnb Rival Already Into Crypto Pay

While Airbnb is just getting started with crypto pay, DTravel, a decentralized home-sharing platform made that possible in 2021

The platform is integrated into the This is managed by users holding the DTravel (TRVL) token, which is backed by Binance.

Customers may book 250,000 homes using cryptocurrency. With a global network of 20,000 homes, the TRVL token can be used to book homes. The TRVL token is listed on exchanges such as MEXC Global, Bybit, Gate, and KuCoin.

Airbnb has been considering crypto pay for quite sometime too. “We have been following the space for quite a long time,” Chesky said, noting that “the founder of Coinbase was an early employee of ours.”

“The key is when regular people understand how the new technology improved their lives, beyond the initial excitement,” the CEO added. “I’m particularly enthusiastic about several applications that ordinary people could utilize to improve their daily lives.”

Related article | Dtravel Home-Sharing Platform Arrives on MEXC Global & Bybit Launchpad

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How Crypto Empowered Porn Creators In 2021: Less Cant More Freedom

The crypto industry saw the opportunity of a lifetime this year when OnlyFans, a platform known mostly for its adult content, announced it would ban sexually explicit content. The crypto and porn industry together represents a very profitable merge that has just started to happen.

The world of payment methods has a history of hypocrisy, control, and morals, and it tends to not support anything related to sex work.

Reportedly, earlier in the year OnlyFans had decided to shut down all sexually explicit content because of pressure from banks and payment processors. There was a huge backlash and the ban stopped days after its announcement, alleging that the platform had “secured assurances necessary” from the banks.

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The platform’s founder and chief executive told Time that banks were refusing to process adult content-related payments.

“OnlyFans stands for inclusion”, they said, but they had been trying to distance themselves from the porn industry, interested in launching a streaming service –which doesn’t allow adult content.

Payment methods have been a burden for porn creators worldwide for years. Their gains are often subject to frozen funds, huge losses, and since there’s not much protection and support offered for sex workers, they need to be extra careful to not become subject to scams and other dangers.

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So anonymity and safe digital wallets go really well with this industry. Naturally, many creators and producers have started to see an answer in crypto.

Crypto’s Not The Only One With A Bad Reputation

Cristobal Medoza producer and co-creator of a top Argentinian porn channel called ‘My Bad Reputation’ was one of many to adopt crypto in order to find financial stability and more opportunities. He gave us inside comments on his personal experience, allowing us to take a peek at the industry people love to consume from but try not to support.

New platforms are surging that connect the porn and crypto industry. A great niche for all parties if successful –it needs to be simple, safe, and well-executed–.

It’s a demystification that goes both ways: the amount of porn consumers is very high. If adult content platforms are related to crypto, this might become a blasting cap of mainstream adoption.

Medonza explained that the major porn platforms have already adopted crypto (paying in Bitcoin and USDT), which contrasts with other payment services offered that are very restrictive and using them comes with too many complications and downsides.

However, many smaller adult content platforms don’t use crypto yet, and that becomes a major problem that comes with huge fees to convert the creators’ money to digital assets.

Mendoza added that porn creators are often affected by the banks, which he claims have closed the accounts of many and frozen their funds when finding out their income is related to adult content.

He commented on the OnlyFans sketchy days of adult content baning, alleging that a large of new pornography platforms started to appear, trying to take that big chunk of a very profitable market.

There’s always going to be someone that will take a stake at that market because it generates huge gains. At the end, OnlyFans took a step back because they knew they would loose too much money and others would quickly fill into their role.

Mendoza stated that his adult content channel takes its payments through Binance, and it has become a great option since “it doesn’t question where the incomes come from, there are no types or morality issues with how we make the money,” plus they can easily exchange it.

Further than using crypto as a better payment method, it has also allowed him and his co-creator to make a few investments through trading and hodling.

There’s many people from the industry that still don’t know how to use crypto as a tool for payments and administration.

I think [they] would greatly benefit from crypto … comissions are low, there’s full control over one’s own income.

He mentioned there are many new projects that claim to link the adult content industry with crypto but some are scams, and creators need to be wary and start to educate themselves about cyber security.

Crypto total market cap at $2,1 trillion in the daily chart | Source:


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Hot Doges and Bitcoinana Splits on offer at Florida crypto restaurant

A new crypto-themed restaurant in Florida is slinging hot dogs and shrimp cocktails inspired by Dogecoin (DOGE) and Shiba Inu (SHIB), with the Dogedogs being highly prized by customers.

The Clearwater Beach-based venue is dubbed the “Crypto Street Restaurant” and held a grand opening to the public earlier this month with a menu full of names that give a nod to popular crypto-assets and terminology.

The menu boasts dishes such as the Dogedog, Crypto Cuban, DeFi Caesar Salad, SHIBA Shrimp Cocktail and the Bitcoinana Split to name a few, while the restaurant’s decor is also decked out with crypto culture themed posters, wall art and furniture depicting Doge, Satoshi Nakamoto, Elon Musk and assortec Bitcoin memes.

Crypto Street Restaurant, Source:

According to the restaurant’s owner Ricardo Varona, Crypto Street accepts payment in all digital assets including memecoins and so-called “Shitcoins,” and the dogedogs have been “pretty popular” so far.

During a Dec.29 interview with the Tampa Bay Times, Varona said that his 24-year-old son first introduced him to crypto a few years ago but he wasn’t a fan of the sector at the time. Over time however, he warmed up to the concept of crypto assets and initially considered launching a restaurant franchise that accepted crypto payments.

After the pandemic hit and various expenses and supply chain issues became apparent, Varona said that he altered his plan to launch a single crypto-themed venue as opposed to a chain that simply accepted crypto.

“I kept thinking I want to do something different, something fresh, and I kept thinking about crypto… I calculated what it would be to do something new, cut ties with the franchise and started working on Crypto Street.”

“So far the younger crowd loves it and come back. With the older crowd, there’s a lot of people that have interest and similar stories to mine where their son or grandson taught them something. So it creates pretty cool conversations,” he added.

Varona said that the restaurant can accept crypto payments via a merchant account or peer-to-peer directly to his wallet.

“So far we have had a few transactions in crypto, though a lot of people are interested in using it. There’s also some people who just sold it or want to hold it in the long-term instead. But a lot of people understand that using it adds value,” he said.

Five stars for the food or the idea?

In its short history, the Crypto Street Restaurant has been reviewed favorably online so far, pulling in a total of three five-star reviews on Yelp and eight five-star reviews on Google Reviews.

“Pretty cool place! Excellent decoration, great menu options and super friendly staff. Owner is on top of everything and will gladly give you a tour of the thematic restaurant and explain how the crypto payment system will work,” says the review from elite Yelper “Eduardo F.”

This is not the first time the beloved Dogecoin has been affiliated with hot dogs, after American meat manufacturing giant Oscar Mayer auctioned off a one-of-one pack of “Hot Doge Wieners” via eBay in August.

Rel Dogecoin Foundation works with Ethereum co-founder on DOGE staking

Last month, Cointelegraph also reported that popular Fast-food chain Burger King partnered with retail trading platform Robinhood to give away free cryptocurrency primarily in the form of DOGE to its customers who sent $5 or more at its locations across the U.S.