Do UK Businesses Still Rely on Cryptocurrency Payments?

Cryptocurrencies have become popular over the last decade, mainly for the financial value of holding and trading coins. However, cryptocurrencies are also popular as a means of digital payment, especially for cross-border transactions. In 2025, changes in the crypto market may increase adoption rates among businesses.

Crypto Payments in the UK

Crypto has become more integrated into the UK’s financial sector, with more businesses accepting Bitcoin and other crypto. Although it is not yet mainstream, the crypto payment market is expanding. Some UK retailers accept crypto payments through a partnership with BitPay and other processors. Stores like Ralph Lauren, IKEA, Old Navy, Abercrombie, and H&M accommodate digital currencies, while some others allow users to purchase gift cards for brands like Amazon using crypto.

The growing interest in crypto extends beyond payments into investment opportunities. Many UK investors now trade crypto through CFD platforms, which let them speculate on price movements without owning the actual coins. CFD trading has made crypto more accessible to retail investors who want exposure to digital assets. These platforms allow traders to go long or short on Bitcoin, Ethereum, and other cryptocurrencies with leverage.

The popularity of crypto gateways stems from the ease of integration with existing business infrastructure and increased market reach. CFD brokers have also contributed to this growth by offering crypto trading alongside traditional assets like stocks and forex. This has helped normalise digital currencies in the eyes of mainstream investors.

Another significant influence on the adoption of crypto payments is the conducive environment. The Financial Conduct Authority (FCA), HMRC, and some UK banks offer regulation, guidance, and crypto-friendly services, respectively, which allows for the growth of crypto. The FCA regulates CFD providers that offer crypto trading, ensuring consumer protection and market integrity. The FCA will adopt new rules to clarify the legal status of digital assets from 2026.

How UK Businesses Accept Crypto

There are three main ways that businesses accept crypto payments: payment gateways, direct integration, and third-party platforms.

• Payment Gateways

Platforms like BitPay and CoinGate offer payment gateways for processing crypto payments. These gateways typically integrate with e-Com platforms.

• Direct Integration

Businesses can also directly integrate crypto payment into their websites so that customers can send crypto without third-party gateways. This method ensures full control over the payment system since it isn’t reliant on the providers.

• Third-party platforms

Digital wallets and apps that facilitate transactions are also available to UK businesses that want to receive crypto. Third-party processors may use crypto debit or gift cards.

Benefits of Crypto Payments for Businesses

Crypto appeals to businesses for payments because of the competitive benefits that it offers, which are sometimes better than what traditional banking systems provide. Some of these are:  

Reaching New Markets

Finder reports that about five million people own crypto in the UK (just 9% of the population) and that the crypto market revenue will reach £3 billion by 2028. The report also states that only 13 million people use crypto globally. Despite this impressive stat, crypto adoption is still early, and there are new markets to penetrate. UK businesses can achieve this using crypto.

Crypto Payments are more flexible, efficient, and cost-effective for cross-border payments. Clients from anywhere with an internet connection can send and receive crypto without limits. This makes it possible for UK-based companies to break into global markets without worrying about payment systems.

Privacy and Anonymity

Cryptocurrency currently offers the best combination of privacy and anonymity for customers and clients. Although often associated with shady deals, anonymity is a powerful quality that merchants and customers desire due to data sharing. Customers want to pay for goods and services without sharing data, accepting cookies, or providing any other sensitive information.

Crypto gateways meet these needs by providing a safe, private, and anonymous way to make payments using crypto like Montero (XMR). The transactions are public and transparent, but each party’s privacy is respected.

Compliance With AML Regulations

The UK takes anti-money laundering laws seriously, and businesses that use crypto must comply with AML regulations at all levels. Although anonymity and privacy are key features of crypto payments, payment gateways help companies meet AML requirements. 

Crypto gateways are special. They implement Know Your Customer (KYC) procedures, segregate and flag transactions/funds from questionable sources, and automatically maintain records to ease audits. This is a key reason why they are attractive to businesses that want to operate outside traditional banking without compromising security.

Crypto-to-Fiat Conversion

One of the sweet points of crypto payment is the fast and seamless conversion into fiat. Businesses that receive crypto can get the equivalent in British pounds or other major currencies without additional processes. This makes it easier to serve clients globally and still receive money in the local currency at no extra costs.

The Crypto-to-Fiat conversion is also helpful for preserving financial value. The prices of cryptocurrencies are volatile, so businesses need a way to receive crypto without losing its worth. Converting immediately after payment ensures merchants can avoid negative volatility after transactions.

Why Crypto Payments are Reliable in the UK

The UK’s disposition to crypto usage makes it attractive to businesses, including those in traditional industries. Blockchain security, lower transaction costs, decentralisation, growing acceptance from retailers and institutional investors, and anti-chargeback make crypto ideal for modern businesses.

However, one of the main reasons crypto remains in the UK is that it has a stable infrastructure that ensures secure and efficient transaction processing, data storage, and network governance. With advanced technologies deployed in the crypto industry, more people will come to trust decentralised finance and adopt crypto payments.

Can Crypto Become the Global Payment System?

Crypto payments form a growing percentage of global financial transactions. With a $3.2 trillion market cap, the crypto market is highly valuable and will grow with widespread adoption. Although there will always be central banking systems, most global transactions will eventually become digital, and digital assets, including cryptocurrencies, will lead to adoption.