Cryptocurrency and legal tender: a new financial landscape of symbiosis and prosperity

In the current surging wave of financial technology, the rise of crypto payments is undoubtedly one of the most eye-catching phenomena. However, Petr Kozyakov, CEO of crypto payment platform Mercuryo, has a unique insight. He believes that the future of finance is not a brutal competition of "winner takes all", but digital assets and legal currencies go hand in hand and shine in their respective fields.

Kozyakov made it clear that although the popularity of crypto payments continues to rise, and the adoption rate and demand continue to grow, in the short term, it is an unrealistic fantasy for cryptocurrencies to completely replace legal currencies. In his view, these two types of assets will coexist for a long time, and people will flexibly choose more convenient payment methods according to different payment scenarios and needs. Just like buying a cup of coffee in a busy commercial street, most people may habitually take out their mobile phones and use legal currency to scan and pay; but when it comes to large-scale cross-border fund transfers, cryptocurrencies may stand out with their unique advantages. "We firmly believe that cryptocurrencies will not replace fiat currencies, and the two will coexist harmoniously. When cryptocurrencies show simpler and more efficient characteristics in salary payments, income settlement or fund transfers, people will naturally embrace it." Kozyakov said.

Today, cryptocurrency as a salary payment option is no longer a new thing, and it is showing a booming trend. More and more companies are beginning to incorporate crypto assets into the salary system of employees. From full-time employees to workers in the gig economy, they have the opportunity to receive wages in the form of cryptocurrency. This trend is like a spark, spreading rapidly around the world. But as more and more employees begin to accept cryptocurrency wages, new problems are also coming one after another. After receiving cryptocurrency wages, employees often fall into confusion: how should these digital assets be used for daily life? After all, daily expenses in life cannot be solved by investment and waiting alone. Paying rent, buying daily necessities, paying utility bills, etc. all require convenient payment methods. Therefore, practical payment options have become an urgent need for cryptocurrency earners. They are eager to be able to easily use these digital assets in daily consumption and let cryptocurrency truly integrate into all aspects of life. It is worth mentioning that some regions have also followed the trend and recognized the application of cryptocurrencies in salary payments. In August 2024, the Dubai Court officially recognized cryptocurrency as a valid way to pay wages, which undoubtedly injected a shot of confidence into the development of cryptocurrency in the salary field.

In Mercuryo's eyes, the value of cryptocurrency is far more than speculation, it is also a powerful tool for transferring and storing funds. "Cryptocurrency is not only an asset, but also a perfect channel for transferring and storing funds, and it is crucial to achieve its convenient use in the consumer field." Kozyakov emphasized. However, in reality, the process of using cryptocurrency for consumption is full of obstacles. Users often need to go through a series of cumbersome steps such as transferring cryptocurrency to an exchange, sending it to a bank account, and dealing with various complex questions raised by the bank, which makes cryptocurrency consumption difficult to popularize. In order to break this dilemma, Mercuryo took positive action. On April 23, the company reached a cooperation with hardware wallet company Ledger to jointly launch a crypto payment card. With this card, users can easily use cryptocurrency for consumption anywhere that accepts Mastercard payments, greatly simplifying the process of using cryptocurrency. Kozyakov firmly believes that seamless crypto payment options like this will become a key force in promoting the widespread use of cryptocurrencies, transforming them from a simple investment tool to an indispensable medium of exchange in daily life.

In the future financial world, cryptocurrencies and legal tender will complement each other and develop in synergy to jointly build a more diversified and convenient payment ecosystem. With the continuous advancement of technology and the increasing richness of application scenarios, crypto payments may bring us more unexpected surprises. Let us wait and see.