Banking giant Citi has stated that the emergence and growth of cryptocurrencies has sparked new thinking for the payments infrastructure.
In a recently published report offering a blueprint for organizations considering crypto payments, Citi notes that digital currencies are generally redefining the entire payment ecosystem. The bank further states that cryptocurrencies are also an emerging store of value.
“Cryptocurrencies have evolved from being an obscure internet novelty to reaching a two trillion dollar market cap. Whether or not cryptocurrency disrupts the payment system as we know it, it has sparked new thinking in payment infrastructure, processing, and accounting, in addition to its increasing adoption as a store of value,” Citi said.
According to the bank, organizations opting for cryptocurrency payments are presented with two options; considering digital currencies as both investments and means of exchange.