New US Study: Are Gen Z Interested in Cryptocurrencies? 🩸📈✅

According to a report by Bernstein analysts, as Gen Z (born between 1997 and 2012) begins to influence the financial sector, their growing interest in digital currencies could lead to transformative changes on financial platforms.

Gen Z’s approach to managing money, currently aged between 12 and 27, could provide insights into the future of the financial sector. Millennials (born between 1981 and 1996, currently aged between 28 and 43) and Gen Z are increasingly contributing to household wealth.

Gen Z prefers to manage their finances “on-chain” rather than traditional online platforms. They find digital banks cumbersome and opaque, and prefer decentralized finance (DeFi) applications and stablecoins, which are digital currencies pegged to traditional assets such as the US dollar. Currently, there are around 27 million wallets that pay out stablecoins every month.

As blockchain technology continues to advance, the cost of transferring money is also decreasing. With improved blockchain metrics, users can transfer $1,000 across borders for less than a cent. This opens up the potential for wider adoption of stablecoins, especially with around $160 billion of stablecoins currently in circulation on the blockchain. $BTC