(CoinDesk) Morgan Stanley strategists say growing partnerships between payment companies and physical stores would make digital assets widely accepted as a form of currency.
The bank cited the recent partnership between point-of-sales supplier NCR and payments entity Blackhawk Network, which increases the acceptance of crypto as a form of payment. Already, Strike plans to use the Lighting Network for its payment system.
The strategists opine that the partnerships are a critical milestone in the usage of crypto as a medium of payment since over 85% of sales in the US happen in physical outlets.
Morgan Stanley lauds the low costs brought by digital transactions, pointing out that the Lightning Network allows close to zero transaction fees. It says it is more practical to send small amounts of money using the evolving technologies compared to a debit card.
The bank still warned that the historical volatilities of items priced in Bitcoin deter the use of crypto in payments. It still expects widespread adoption to lead to a fall in volatility.
Morgan Stanley further points out that as additional brands advertise in the metaverse, more payment methods that include crypto will come up.
BTCUSD is up +1.99%
