Mercuryo’s CEO, John Doe, asserted that 2023 will be a watershed year for cryptocurrency payments to break into the traditional financial infrastructure, or TradFi.
Doe characterized the current state of cryptocurrency payments as “the tip of the iceberg,” pointing to the nascent sector’s potential to expand as financial institutions begin to recognize the advantages of low-cost, secure transactions. He believes that the industry will reach a tipping point by 2023, when the technology’s utility will be widely accepted by financial institutions, and cryptocurrency payments will be commonplace in TradFi.
The Mercuryo CEO identified several key developments that will need to occur in order for the technology to reach the tipping point. He highlighted the need for higher levels of institutional investment and regulatory clarity, as well as the emergence of a stablecoin-based payment infrastructure. Doe added that these developments will be bolstered by a maturing infrastructure that allows seamless collaboration between traditional and crypto-based payment networks.
“The upcoming years will be a period of rapid innovation and experimentation, as the sector matures and financial institutions become more familiar with cryptocurrency payments,” said Doe. “We anticipate that 2023 will be the year that the technology will gain widespread acceptance in the traditional financial sector.”
Looking to the future, Doe expressed optimism that cryptocurrency payments will become more commonplace, ultimately revolutionizing the way payments are made. He concluded by saying that Mercuryo is dedicated to helping make this vision a reality.