23 Jan The Risky Business Of SMBs’ Crypto Adoption
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Cryptocurrency went from dark-web danger to high-tech investment opportunity seemingly overnight, and, as more consumers seek to use digital currency, more businesses are stepping into the space.
The adoption of cryptocurrency among small- and medium-sized businesses (SMBs) may be larger than one might think. According to a recent survey by specialty insurer Hartford Steam Boiler (HSB), as much as one-third of SMBs in the U.S. currently accept cryptocurrency as payment, and even more have purchased crypto for their own use.
The findings surprised HSB’s own Vice President Tim Zeilman, who told PYMNTS that he hadn’t realized the extent of SMBs’ involvement in the world of crypto.
“They’re both reacting to what customers are asking them to do, but they’re also getting into this because there are advantages from a business operational perspective in accepting cryptocurrencies,” he said in a recent interview.
Indeed, it makes good…
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