Crypto Payments and Web 3.0 for Banks, Merchants, and PSPs Report

Report, published: November 2022

How to tap into Crypto Payments and Web 3.0 For Banks, Merchants, and PSPs is an essential guide to accepting crypto payments and the cash management around it.






The report provides a go-to payment resource of crypto terms and concepts for those interested to understand the basics of crypto payments and their long-term impact. Also, it shares practical examples of cryptocurrency-enabled ecommerce and banking services and presents the latest developments in the regulatory landscape. All these are supported by the findings of an industry survey we conducted with INNOPAY to gauge financial industry participants’ interest in the crypto infrastructure, tokens, and services.



On top of these, the report reveals what are the most innovative companies in this space (crypto industry mapping), that are building the crypto rails.

The report’s key message is that DeFi, Web3, and the crypto world offer the interesting potential to reduce costs, increase speed, and improve functionality in payments, lending, and borrowing by eliminating friction in terms of technology, contracting, and coordination between multiple parties.

Some key highlights from the report include:

  • Banks must develop a sound approach to Web3 and crypto that helps them to stay ahead and build a competitive offering (Banking Circle)

  • Before accepting crypto payments, it’s best to start with a simple question: do your customers want to pay with crypto?  (MRC)

  • Bringing blockchain into ecommerce can unlock new payment rails for millions of digital currency owners while driving revenue and opening new channels for merchants (ACI Worldwide)

  • The Lightning Network on Bitcoin is specifically designed to cater to the requirements as a payment infrastructure (Binance)

  • The biggest hurdles for merchants to accept crypto payments include the volatility risk, the speed of transaction processing, and the integration of blockchain processes within the existing payment infrastructure (Worldline)

  • A payment gateway cannot be a vehicle for money laundering or illicit activities, therefore, the key operating principle for businesses operating with crypto is compliance with the law (TripleA)

Crypto and Web 3.0 payment industry survey

Between June and September 2022, together with INNOPAY, we surveyed banks, payment institutions, vendors, and merchants and found that 88% of the respondents expect crypto to have an impact on the current payment infrastructure, which is why some are already ‘testing the water’. Therefore, members of the payment industry seem willing to offer crypto products and services and are preparing their organisations by gaining more knowledge about the technology and customer demands.

Who is who in crypto payments and the web 3 ecosystem

The report’s educational content and survey results are coupled with a mapping of the main players in the crypto payments and the Web3 ecosystem. Whether they are crypto exchanges, wallets, card issuers, ATMs, lending, borrowing, custodians, money transfers, protocols, blockchain analytics, etc., these players offer the capabilities to build and protect the crypto rails in the B2B, B2C, or B2B & B2C area.

As regulation is key for the advancement of this space, the report reveals the latest developments in the crypto regulatory landscape in Europe (France, Germany, the Netherlands), the US, the UK, Asia (Hong Kong, China, Singapore, Vietnam, Philippines, Australia, India), and LATAM (Argentina, Chile, Colombia, Brazil).

We are grateful for you taking the time to download and read our report, and please don’t forget to share your thoughts with us at

Enjoy your reading!


Research Type Overview
Published 25 Nov 2022
Pages 102
File Type PDF
Size 4780kb
Geographic Scope    World
Editions Cryptocurrencies