Kash Razzaghi, Chief Commercial Officer of Circle Internet Group Inc. (NASDAQ:CRCL), said cryptocurrency’s next chapter will be defined by payments and utility rather than speculation.
All About Solving ‘Real-World Problems’
Mastercard (NYSE:MA) on Thursday revisited an exchange it had with Razzaghi in January after returning from the World Economic Forum in Davos.
“It was really all about infrastructure and how blockchain technology and digital assets can solve real-world problems or enhance capabilities of money movement, store of value and access to financial systems and tools,” Razzaghi talked about the event.
Razzaghi noted that clearer regulations are opening the door for institutions, while the “benefits” of the infrastructure grow more apparent.
“It is not about speculation. It is about how do you move billions or trillions of dollars of value over this technology, using this technology instantly,” he added.
The Intersection Between Crypto And TradFi
This perspective comes in the wake of Mastercard’s new planned initiative, which brings together over 85 partners, including Circle, cryptocurrency exchanges, blockchain developers, fintech companies, and banks, to explore how blockchain-based systems could connect with traditional payment rails.
Circle, the issuer of the world’s second-largest stablecoin USDC (CRYPTO: USDC), is expanding its infrastructure through the Circle Payments Network, enabling institutions to send USDC transfers that convert into local currency payouts.
Notably, Bernstein reiterated its $190 price target for the CRCL stock earlier this week, implying 66% upside from current levels as stablecoin adoption accelerates for payments and AI agents.
Price Action: Circle shares were down 0.51% in pre-market trading after closing 1.21% higher at $114.18 during Thursday’s regular trading session, according to data from Benzinga Pro.
According to Benzinga’s Edge Stock Rankings, the stock exhibited a weak price trend across short-, medium-, and long-term periods.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: PJ McDonnell via Shutterstock
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