Bitnovo, one of the leading payment gateways in Europe, announced a significant partnership with Wipay, which is targeted towards greater crypto adoption in Spanish markets.
The collaboration between the two giants is expected to revolutionize the digital payment landscape in Spain allowing traders to use cryptocurrencies as payment options.
The alliance between both companies will allow thousands of merchants in Spain, and the European region to accept payments with cryptocurrencies.
One of the main objectives of the partnership between both companies will be to contribute to the growth of the crypto ecosystem in Spain. According to data provided by Statista, the revenue in the cryptocurrency market in the Spanish market is projected to reach US$928.9m during this year. Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.84%, resulting in a projected total amount of US$1,352.0m by 2028.
Bitnovo has been considered one of the leading crypto companies within the Spanish and European markets, having recently obtained permission to operate in the Dutch and French markets, expanding its presence on the continent.
Cryptocurrency adoption grows in Europe
Europe has been considered one of the regions with the fastest cryptocurrency growth at an international level.
Data provided by Statista indicate that the Revenue in the European crypto market is projected to reach US$13.6bn during this year, the revenue is expected to show an annual growth rate (CAGR 2024-2028) of 8.06%, resulting in a projected total amount of US$18.5bn by 2028.
According to the Chainalysis report on global cryptocurrency adoption, the UK, Spain, France, and Germany are some of the countries that are currently leading the crypto adoption in the region.
Each country within the region has its economic model and laws, but without a doubt, the European Union as an economic integration block is helping the growth of the crypto market in the region.
Without a doubt, Europe will continue to position itself as one of the leading cryptocurrency adoption regions worldwide driven by different factors, such as the development of the MiCA’s new policies guidelines, among others.
Subscribe to us to read more market news.
