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Crypto Payment Adoption 2023 Roundup: 10 New Sectors and Several Brands

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By Jessy Sloan - - 5 Mins Read
Bitcoin accepted here sign: customers in a shop blurred.
Featured Photo | Shutterstock

According to a recent study by CoinLedger, there has been a significant increase in the adoption of blockchain-based payments across various industries.


Over the years, there has been a growing trend towards considering digital currencies as viable means of transactions.


CoinLedger's study was conducted between September 27th and October 4th, 2023, and carefully analyzed the openness of 312 major companies towards accepting cryptocurrencies.


The findings, categorized by industry sectors, illuminated the expansive embrace of cryptocurrencies, marking a shift in payment methodologies across diverse businesses.

Leading Sectors Embracing Cryptocurrency Payments


  • Retail & E-commerce: Pioneering the Crypto Frontier

Undeniably, the retail and e-commerce domain spearheads this revolutionary trend. Household names like Adidas, H&M, and Etsy have started to accept digital currencies. Among the 312 companies analyzed, an impressive 60 belong to this sector.


While Adidas doesn't directly accept crypto on its official website, selling its Into the Metaverse NFTs on platforms like OpenSea facilitates cryptocurrency payments, showing the brand's foray into this space.


  • Food & Dining


Securing the second position in crypto adoption, the food and dining sector boasts 54 companies embracing cryptocurrency payments. Giants like Chipotle and Domino’s and delivery services such as DoorDash and Uber Eats now facilitate cryptocurrency transactions.


Notably, early adopters like Burger King Venezuela commenced accepting Bitcoin in 2020, signaling a pioneering move in the industry.


  • Luxury Retail and Travel & Hospitality


Closely following suit, the luxury retail sector, featuring esteemed brands like Gucci, Ralph Lauren, and Hublot, has also embraced cryptocurrency, with 35 companies now allowing crypto payments.


Similarly, the travel and hospitality industry ranks fourth, with 31 companies venturing into this domain. From airlines like Norwegian Air to cruise companies such as Royal Caribbean, crypto payments are reshaping the consumer experience in these sectors.


  • Diverse Adoption Across Various Industries

Furthermore, the study identified 28 Internet and Online Services, including Google Play and Spotify, joining the league of businesses that accept crypto.


The adoption is not limited to traditional sectors, with entities in entertainment, automotive, gaming, non-profit, and technology also incorporating cryptocurrency payments.



List of companies that accept crypto as a payment method
List of companies and sectors adopting crypto | Dailycoin.com


The Driving Forces Behind Crypto Adoption

David Kemmerer, Co-Founder and CEO of CoinLedger highlighted cryptocurrencies' decentralized nature and heightened security as key catalysts driving their acceptance.


The benefits extend to lower transaction costs, particularly advantageous for international transfers, fostering a cost-effective and secure transaction ecosystem.


While the study presents compelling trends, scrutiny of its methodology is imperative. Questions linger regarding the criteria used for company selection and sorting.


Notwithstanding the acceptance, concerns regarding the volatility of cryptocurrencies and security apprehensions persist among businesses.


Despite regulatory support, certain regions such as El Salvador struggle with slow Bitcoin adoption, indicating obstacles to widespread acceptance.

Significance of Growing Crypto Adoption

The trends gleaned from CoinLedger's study underscore the paradigm shift towards embracing crypto payments across diverse sectors. 


So, as more industries embrace blockchain-based payments, a myriad of opportunities for end-users unfolds, delineating a transformative phase for digital transactions.