Bitcoin Payment Adoption Grows Globally
Data from Bitcoin merchant mapping provider BTC Map reveals that the number of businesses accepting Bitcoin payments globally nearly tripled in 2023.
At the end of the year, 6,126 restaurants, bars, shops, and services were listed as accepting the digital asset, up from 2,207 at the start of the year. This number peaked at 6,590 merchants in late September before declining slightly.
The increase could be attributed to users more diligently adding businesses to the web 3.0 database of OpenStreetMap, which BTC Map uses to map places where people can pay with Bitcoin.
Cryptocurrency Acceptance Across the Globe
The map reveals that Central and South America have larger concentrations of retailers that accept BTC, while Africa and Asia have fewer. The United States and Europe have higher numbers of merchants accepting cryptocurrency.
The Philippines is the leader in Southeast Asia for merchants that accept crypto assets, while China, India, and Russia have virtually none.
In November, Cointelegraph reported that many merchants that accept crypto assets use Web 3.0 development services and financial services to sell them back to markets after receiving them.
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