Originally published: Best in AU, 13 December 2023
Australia has garnered a reputation as an early mover when it comes to emerging tech. We saw it with internet use in the 1990s and with smartphone penetration in the new millennium. In both cases, adoption in Australia was a year or two ahead of the USA and Western Europe, so Australia is seen as something of a barometer. What happens here is an indicator of what is likely to be coming in the rest of the world.
So it is that a sudden trend towards crypto adoption in the Australian retail sector is generating interest, and not only down under. Let’s take a look at what is happening and what is driving it.
Stablecoins have been an important factor in driving crypto adoption among consumers. Survey data gathered by PureProfile shows that more than 50 percent of both consumers and retailers are in favor of crypto transactions, and crypto gateways like UniPayment and DataMesh make it easy and painless for both parties.
