About one-third of US-based small and medium-sized enterprises (SMEs) accept cryptocurrency as a payment for their goods and services, according to a survey commissioned by American insurer Hartford Steam Boiler (HSB), a subsidiary of German Munich Re.
Newer Companies Are More Crypto-Friendly
HSB’s survey found that newer companies are twice as likely to accept cryptocurrency payments and trade in digital credits. Specifically, 47% of businesses accepting cryptocurrencies have been around for five years or less, compared to 21% of companies older than two decades.
In general, the study carried out by Zogby Analytics showed that 36% of SMEs are crypto-friendly, and 59% of these companies had previously purchased cryptocurrency for their own use.
HSB vice president Timothy Zeilman argues that businesses enjoy the benefits that come…
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