Petr Kozyakov, CEO of crypto payments platform Mercuryo, told Cointelegraph that the future of finance may not be a winner-takes-all scenario but a blend of digital assets and fiat

Petr Kozyakov, CEO of crypto payments platform Mercuryo, says the future of finance may not be a winner-takes-all scenario but rather a blend of digital assets and fiat, each used where it makes the most sense.

In an interview with Cointelegraph, Kozyakov explained that while crypto payments are seeing an increase in adoption and demand, the asset class won’t be fully replacing fiat money anytime soon. Instead, he believes the two asset classes will coexist, with people choosing the more convenient payment option in different situations.

“We don’t think crypto will replace fiat. They will coexist, and people will turn to crypto when it’s the easier, more practical option, whether that’s for payroll, yield or money transfers.”

Crypto payroll gains momentum as payment options expand

Kozyakov pointed out that crypto as a salary payment option is no longer a novelty, with more companies settling employee salaries with crypto assets.

“That is a growing trend. I see a lot of businesses that are starting to settle with their full-time employees and with their gig employees all over the world, in crypto.”

However, as more employees receive crypto salaries, new challenges can emerge. According to Kozyakov, workers paid in crypto may ask what they can do next with their funds.

“You won’t invest everything and just wait. You need to use it for everyday purchases. So what good is crypto if you can’t spend it?”

This is where practical spending options are needed. Kozyakov said that crypto earners are looking for ways to use their digital asset incomes in daily life scenarios, whether buying coffee, going out for drinks or settling utility bills.

As crypto becomes an option for employee salaries, there has also been a growing acceptance of crypto in employee contracts in some jurisdictions. In August 2024, a Dubai court recognized crypto as a valid form of salary payment.

Crypto, a powerful tool for moving and storing money

The executive also told Cointelegraph that Mercuryo views crypto not merely as a speculative asset but rather a powerful tool for moving and storing value.

“Crypto is not only an asset; it’s the perfect rail to move money and store money. And it is essential to be able to spend it.”

In practice, however, spending crypto can still be quite complex, taking a few steps, such as moving it to an exchange, sending it to a bank account and answering “weird” questions from banks, Kozyakov added.

Because of this, he highlighted a need for easier ways to spend crypto directly. The executive said that this is where their company comes in. On April 23, the payment services firm collaborated with the hardware wallet company Ledger on a crypto payment card that allows users to spend crypto where Mastercard payments are accepted.

Kozyakov said that seamless crypto payment options will drive wider crypto adoption, not just as an investment, but as a true medium of exchange for daily life.