Luno’s latest report, Bridging Digital and Fiat: Crypto’s Role in Modern Payments, highlights how cryptocurrencies are transitioning from investments to practical payment solutions. Bitcoin and stablecoins, designed to address inefficiencies in global payments, offer opportunities for low-cost cross-border transactions, especially for remittances.
The report features success stories like South African retailer Pick n Pay, which saw crypto payments grow to R1 million in monthly sales, showcasing crypto’s potential in everyday transactions. However, integrating crypto into the wider economy remains a challenge, requiring collaboration between traditional finance, crypto firms, and regulators.
A Luno poll revealed that 40% of users have made crypto payments, with Bitcoin being the most popular. As crypto adoption grows, its role as both an investment and a payment tool is expected to align further, paving the way for broader use in Africa’s financial system.
