Cryptocurrency adoption is set to eclipse the coveted one billion user threshold, potentially as soon as 2026.

Pavlo Denysiuk, the CEO of crypto payments company Lunu, anticipates a tripling in the number of cryptocurrency holders within the next two years, based on current growth trajectories.

Speaking at NFT Fest 2024, Denysiuk remarked, “In the next two years, we will see a doubling or even tripling in the number of crypto holders globally. This growth will drive broader adoption, especially in payment systems.”

Current Crypto Ownership and Future Projections

As per the 2024 Cryptocurrency Ownership report by Triple-A, there are currently an estimated 560 million cryptocurrency holders globally, equating to approximately 6.8% of the world’s population.

Infrastructure as the Catalyst for Crypto Adoption

With nearly 7% of the global populace holding cryptocurrency, the widespread adoption of crypto payments seems imminent, hinging on the availability of adequate infrastructure.

Denysiuk posits that mainstream adoption of crypto payments will ensue once major companies like Starbucks implement the necessary frameworks: “Crypto payment adoption doesn’t require convincing. It’s simply about having the infrastructure. When you visit your local Starbucks or any other place and see a sign saying ‘we accept crypto,’ it becomes just another payment option,” he elaborated. Denysiuk likened crypto payments to existing credit card and digital payment systems, already prevalent in mainstream use.

As the CEO of Berlin-based Lunu, Denysiuk is at the helm of a company crafting a stablecoin-powered payments ecosystem aimed at economic integration.

The Role of Stablecoins in Mass Adoption

Stablecoins are pivotal in bridging the gap between the fiat and digital economies, playing a crucial role in attaining the first billion crypto users, according to Denysiuk. He stated, “Stablecoins are essential for adoption. We rarely see people paying with Bitcoin, despite its origin as a digital currency.”

The stablecoin market is valued at over $163 billion, constituting 7.7% of the entire cryptocurrency market’s $2.11 trillion market capitalization, as reported by CoinMarketCap.

Overcoming Barriers to Mainstream Crypto Adoption

To achieve mainstream adoption, more user-friendly applications are essential, asserts Chintan Turakhia, senior director of engineering at Coinbase. In an exclusive interview with Cointelegraph at EthCC, Turakhia emphasized the need to eliminate friction points to attract the next wave of users: “If our goal is to onboard the next billion users—starting with just 100 million—we must address and remove all obstacles.”