New Trend in Payments: Crypto Currencies

As of February 2025, cryptocurrencies have become an increasingly integral part of the United States payment landscape, driven by technological advancements, evolving consumer preferences, and significant regulatory developments.

Increased Adoption by Major Corporations

Several prominent companies have embraced cryptocurrency payments, enhancing their accessibility and mainstream acceptance. For instance, Sheetz, a major U.S. convenience store chain, now accepts cryptocurrencies, including Bitcoin, Ethereum, and USDC, across all of its 750-plus locations, allowing customers to pay for items such as snacks, gas, and coffee using digital currencies. 

Similarly, Home Depot, the largest home improvement retailer in the U.S., enables customers to pay for tools, building materials, and services using Bitcoin, thanks to the Flexa Spedn app, which streamlines cryptocurrency transactions. By integrating Bitcoin payments through this app, Home Depot has taken a notable step toward embracing digital currencies in retail. 

Regulatory Developments

The regulatory environment for cryptocurrencies in the U.S. has evolved significantly. In January 2025, President Trump issued an executive order titled “Strengthening American Leadership in Digital Financial Technology,” aiming to promote U.S. leadership in digital assets and financial technology while protecting economic liberty. 

Additionally, the Federal Deposit Insurance Corporation (FDIC) plans to revise guidelines enabling banks to engage in crypto activities without requiring regulatory approval. This move is expected to allow banks to compete with firms like Coinbase and Robinhood, potentially integrating cryptocurrencies more deeply into the financial system. 

Technological Innovations

Technological advancements have further facilitated the integration of cryptocurrencies into the payment ecosystem. Elon Musk’s “X Money” payment system, set to launch in 2025, aims to work without a bank account to transfer user money and could support payments through cryptocurrency. This initiative is part of Twitter’s rebranding into an all-encompassing super app. 

Challenges and Considerations

Despite these advancements, challenges remain. A coalition of 19 U.S. states has filed a lawsuit to prevent Elon Musk’s Department of Government Efficiency (DOGE) from accessing government payment processing systems, citing concerns over legal authority and potential cybersecurity risks.