According to the latest report conducted by crypto education platform Crypto Head, the United States is the world’s most “crypto-ready” country, followed by Cyprus, Singapore, Hong Kong and the United Kingdom.
The report examined the amount of crypto ATM, the accessibility of crypto-related information, the legal stance of the government whether banks can use it, as well as the number of online searches for crypto-related terms among 200 countries.
Simultaneously, Bank for International Settlements(BIS) published a study, namely “Distrust or speculation? The socioeconomic drivers of US cryptocurrency investments”, declaring that the study “disproves the hypothesis that cryptocurrency investors are motivated by distrust in fiat currencies or regulated finance”. Although respondents showed their trust in cash and traditional banks by rating 2.7 to 4 out of 5, people who use technology are likely to invest in crypto, with Debit card holders has increased 1.9%, PayPal users have increased 2 %more likely, and mobile payments apps users have increased 3.5 %. While the debit card users account for ⅘ of the US residents, ¼ of residents used payment app, and almost 40% applied PayPal last year, suggesting that the majority of US residents are appetite for crypto investment.
Nevertheless, Zero-commission trading platform Robinhood filed for IPO with the US SEC last week. According to the S-1 filing document, Robinhood gained a net revenue of $959 million in 2020, with crypto trading accounting for 17% of the revenue. The platform currently manages US$11.6 billion in crypto assets with 18 million users, as of March.