Head of Payments at JPMorgan Believes the Demand for Crypto Payments Declined Drastically

The global head of payments for JPMorgan's Corporate & Investment Bank division, Takis Georgakopoulos, talked about client demand for crypto as a payment method in an interview with Bloomberg Television this week where he said, "we saw a lot of demand for our clients, let's say up until six months ago. We see very little right now."

While noting that the demand for crypto as a payment tool has drastically declined, Georgakopoulos stressed that the bank will still support clients who want to use crypto for this purpose.

He added that cryptocurrencies are also becoming "larger and larger" in the gaming sector — both in traditional gaming and in the metaverse, where he sees many opportunities.

A recent survey found that over 85% of merchants "are giving high or very high priority to enabling cryptocurrency payments." In addition, "nearly three-quarters of those surveyed reported plans to accept either cryptocurrency or stablecoin payments within the next 24 months."

A different survey showed "growing interest" in crypto's use as a payment method. 39% and 34% of respondents reported using crypto / digital assets as a payment method to make online or in-person purchases, respectively. Additionally, 49% and 53% of respondents expressed interest in using crypto / digital assets to make either online or in-person purchases, respectively.

Source: Bitcoin.com