How does the market for cross-border payments look like today and which role plays Bitcoin in this context? A recent in-depth report by River examines the cross-border payments industry and Bitcoin adoption in the context of cross-border payments.
Key insights on cross-border payments
1️⃣ In 2022, cross-border payments volume was more than 150 trillion US dollar.
2️⃣ On average, remittances cost 6.24% in fees. Fees over time are shown in the following figure:
3️⃣ 76% of worldwide adults have a bank account, while 10% don’t have a government-issued ID.
Key insights on Bitcoin adoption
4️⃣ There are 800,000 active Bitcoin addresses per day.
5️⃣ There are 32.9 million active entities in Bitcoin with 44.4 million addresses.
6️⃣ Number of people sending remittances globally is at least 100-400% higher than number of Bitcoin holders.
7️⃣ Physical stores accepting Bitcoin have increased steadily over the past years:
Note that all figures are from the paper.