Crypto Companies’ partnership with offline stores will push adoption: Morgan Stanley

Morgan Stanley published its report on crypto adoption and noted that Crypto is going toward more adoption.

Morgan Stanley is an American multinational investment bank and financial services company, which is headquartered at 1585 Broadway in Midtown Manhattan. In this company, around more than 75,000 employees are working, so we can understand the potential of the team to research different financial systems, available in the world. 

On 21 April, Morgan Stanley published its research report on crypto and noted that the involvement of crypto companies with physical stores may bring revolution to the crypto & Blockchain industry. 

The report noted that recently Bitcoin payment based platform Strike established a partnership with the Blackhawk Network, point-of-sales supplier NCR and a payments firm. According to report, this partnership is going to be a milestone because it will allow huge numbers of physical stores in the US to accept Bitcoin payments.

Morgan Stanley’s research noted that 85% of the US-based stores are active in offline because people prefer offline instead of online. And with the use of Bitcoin lightning network support, Bitcoin payment solution providers are helping to facilitate payments at almost zero cost and instantly.

The negative side noted by the Bank is volatility in the prices of Bitcoin. Bank noted that goods, which have prices in Bitcoin, are really facing huge volatility issues but the availability of Crypto card-based payments is solving volatility issues at a significant level for merchants but still it will be a big issue for the crypto adoption. 

On NFTs collectibles, Bank notes that the majority of the NFTs can be bought with the use of Ethereum coin as a mandatory need, and also a shift of the efforts by multiple companies toward Metaverse-based advertisement may lead to an increment of huge numbers of crypto payments in the virtual world.

Read also: Cardano ecosystem will provide On-Chian KYC with Blockpass