Cryptocurrencies are gaining popularity globally but more needs to be done for further adoption.
Petr Kozyakov, CEO of crypto payments tech firm Mercury, believes that better infrastructure is the key to cryptocurrency payment adoption. He mentioned it recently during a Interview with PYMNTS,
Kozyakov said;
“I believe that a lot of companies would like to use more cryptocurrency in their day-to-day operations, but they do not have easy access to that. Had there been good infrastructure, crypto adoption would have been really high.”
He lamented that bridging the gap between fiat and cryptocurrency is difficult at the moment as the infrastructure is not yet available.
The CEO of Mercurio said that banks need partners if they are to bridge this gap between cryptocurrencies and fiat currencies. he said;
“Transferring money from my UK bank account to a Polish bank account on Friday evening was not easy,” Kozyakov recalled, but using Mercurio’s app, he was able to buy and send crypto in just a few clicks. “This is why remittance payments sent home from immigrant workers are such a low-hanging fruit for crypto payments. Our development shows that the market really needs a solution to bridge the legal and crypto worlds, which Helps crypto-native businesses gain access to fiat infrastructure, and vice versa.
Kozyakov said more companies need to emerge that can handle fiat and cryptocurrency transactions. Having those companies will make it easier for the users. He concluded that;
“They know how to deal with fiat currency, but crypto is a different world. They think of crypto as an asset rather than a payment tool,” he said. “What they need is a partner to do it for them.”
With cryptocurrencies continuing to be adopted globally, stablecoins are now available to make it easier for people to transact in non-volatile digital assets.
