Pavlo Denysiuk, the CEO of Lunu has stated that the number of crypto holders globally is set to cross the much-awaited one billion mark as early as 2026.
Pavlo who heads Lunu, a crypto payment firm stated that moving by current user growth in the industry, the number of global crypto holders is set to triple by 2026.
Pavlo stated this during a panel discussion on NFT Fest 2024.
“Within two years there will be at least two times or three times more crypto holders worldwide. This is where we get more adoption everywhere and in terms of payments as well.” Pavlo said
An earlier report by Triple-A on cryptocurrency ownership pegged the number of global crypto holders at 560 million. This means that about 6.8% of the world currently owns crypto. Pavlo believes this number is set to triple by 2026 if the user growth rate of the crypto industry remains the same.
Mr. Denysiuk went ahead to explain the correlation between the growing number of global crypto holders to the mainstream adoption of crypto payments.
He argued that the mainstream adoption of crypto payments will take root when adequate infrastructure is put in place.
“Crypto payment adoption] is not something that you need to convince someone of. Whenever the infrastructure is there, whenever you come to your Starbucks shop or somewhere else and there is a sticker saying, ‘we accept crypto’. Denysiuk added.
Denysiuk maintained that crypto payments are just like other kinds of payments and there isn’t much difference between accepting payments in crypto and using credit cards and bank-approved digital payments.
Mr. Denysiuk whose Lunu company is spearheading a stablecoin-powered payment ecosystem drew parallels in the proposed growth of global crypto adoption and the role of stablecoins in making that happen.
He explained that the stablecoin sector is a source of major onboarding of new users to the crypto industry and would be instrumental in seeing global crypto adoption cross the 1 billion mark.
“Stablecoins are very important for adoption. In our case, we rarely see people paying in Bitcoin, even though Bitcoin was invented as a digital currency.” Denysiuk said.
According to CoinMarketCap data, the stablecoin market is currently worth over $163 billion which represents 7.7% of the entire crypto market capitalization worth $2.11 trillion.
What to Know
- Pavlo Denysiuk is the CEO of Berlin-based Lunu which focuses on building a stablecoin-powered crypto payment ecosystem.
- Popular Payment Company PayPal is also in the stablecoin market with the launch of PayPal USD (PYUSD). PYUSD is PayPal’s stablecoin and can be bought on PayPal for 1 USD.
