Spain has emerged as a rising crypto hub in Europe, with a recent report suggesting the rise of long-term crypto investors.
The Spanish crypto industry is growing fast, according to recent data. In terms of crypto adoption, it has risen quickly in the last few years. In the list of global countries for crypto adoption, it climbed to the 22nd position. In the process, the country saw 15% of its population adopting crypto, up from 10% just a few years ago. The latest research has also shown the rise of long-term crypto investors in Spain.
The data for the same is encouraging for the Spanish crypto industry. A record 60.7% of Spanish citizens are willing to hold on to crypto long-term. 35.7% of Spaniards would use crypto for payments, while 21.4% could use it for speculation. 17.9% could buy crypto only out of curiosity.
Crypto payments in Spain are also skyrocketing along with the industry-wide change. Spain’s citizens are increasingly making crypto payments, leading to more adoption. Crypto ATMs in Spain are also seeing a steady rise, helping it create a crypto hub. According to the reports, Spain was listed in 4th position globally in terms of the highest crypto ATMs.
The government of Spain has been a leading motivator for the Spanish crypto industry. Earlier in January, the Bank of Spain had green-lighted a digital asset project linked to the Euro. It subsequently released guidelines for crypto exchanges as well. The move has led to a recent rise in crypto exchanges registering in the country.