The announcement was made at Surfin’ Bitcoin, Europe’s largest Bitcoin conference, which took place between 25 and 27 August at Biarritz, France. The 1.5 million users of Ledger Live, Ledger’s app, will now be able to use StackinSat’s services.
In March 2022, StackinSat opened its services to businesses (as opposed to individuals), offering to place their dormant cash in Bitcoin.
Earlier in August 2022, Bloomberg reported that Ledger is looking to raise USD 100 million. In June, Ledger secured USD 380 million in Series C funding, in a round led by 10T Holdings. In July, the company introduced a nonfungible token marketplace which it said would feature the work of major figures.
Research from Deloitte notes that in 2020, a growing number of companies ‘began allocating cash to digital assets and cryptocurrencies.’ Deloitte notes the range of motives, from protecting against fluctuating currencies, to exploring new technologies, to complementing the acceptance of digital assets as a means of payment.
Separate research from Deloitte notes that businesses worldwide are increasingly taking up Bitcoin, as well as other digital assets, for a broader range of ‘investment, operational and transactional purposes.’ Bitcoin has become particularly popular as a means of payment. Over 15,100 businesses worldwide, according to figures from Fundera, accepted Bitcoin as of 2020; MIT Technology Review notes that they include major brands such as Starbucks and Microsoft.
Research by Chainalysis shows that global adoption of cryptocurrency rose by 881% between Q2 2020 and Q2 2021, and over 2300% between 2019 and 2021. Chainalysis notes that the reasons for adoption vary by region, with emerging markets using crypto savings as a defence against currency devaluation, while the growth of cryptocurrency in other regions tends to be fuelled by institutional investment.
Data from crypto.com suggests that around 1 billion people globally will use cryptocurrency exchanges by the end of this year. The global cryptocurrency market, according to SEO trend detection platform Exploding Topics, is forecast to be worth USD 4.94 by 2030, clocking a CAGR rate of almost 13%.
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