Circle CCO says crypto evolving from speculation to financial infrastructure

Kash Razzaghi, Chief Commercial Officer at USDC issuer Circle, stated in an interview with Mastercard that cryptocurrency is evolving from a speculative tool into new financial infrastructure. He explained that while market volatility exists, the industry's focus is shifting to practical use cases like moving funds, storing value, and improving financial access through blockchain. Razzaghi noted that major financial institutions are also embracing the technology with the expectation of reducing costs and increasing remittance speeds. He added that the primary uses for stablecoins currently include crypto trading and investment, cross-border payments, and as a store of value in countries with rapidly devaluing currencies. According to Razzaghi, the popularization of stablecoins could be accelerated as on-chain fund transfers become more widespread. Circle previously joined the Mastercard Crypto Partner Program as a global partner.