The Deloitte and PayPal study was released last week and was conducted from Dec. 3 to 16, and involved 2,000 senior U.S. retail executives.
According to the survey, more than 85% of U.S. merchants consider the adoption of cryptopayments their strategic priority, with nearly three-quarters of respondents planning to begin accepting cryptocurrency or Stablecoin payments within the next 24 months.
According to Deloitte, interest in cryptocurrencies prevails among the younger generation.
The study also says crypto infrastructure spending will increase significantly, as more than 60% of respondents said they expect to set a budget of more than $500,000 within the next 12 months to support crypto payments.
However, more than half (52%) of merchants do not plan to own cryptocurrencies directly, but instead use a variety of payment systems that would convert digital assets into fiat.
In addition, respondents cited numerous obstacles to accepting cryptocurrency payments. The main concerns of merchants are the security of payment platforms’ clients – 43%. Another 37% of respondents are concerned about the changing regulatory framework. The instability of the digital currency market is the main barrier for 36%.