Investment banking company Morgan Stanley says that cryptocurrencies could become a widely used currency with the growing number of partnerships with physical stores.
BTCUSD is up +3.59%
The bank cited a recent Strike partnership with the point of sale supplier NCR and Blackhawk, set to introduce a significant number of retailers to accepting bitcoin payments. The payment platform will use Lighting Network.
The bank adds that the charges for transferring bitcoin through the Lightning Network were minimal and thus making it practical for small payments compared to card payments.
Morgan Stanley maintains that the partnerships with the physical stores were becoming an important step toward adopting bitcoin as a mode of transaction settlements since over 85% of sales in the US happens in shops and not online.
The investment bank thinks that the growing adoption of bitcoin use in physical stores could tame volatility, a major obstacle in the past.