WeFi Group CEO Maksym Sakharov: Crypto’s Future Depends on Payments

For most of its life, cryptocurrency has been sold through movement. Prices surged, prices crashed, and each cycle promised that mass adoption was finally close. However, Maksym Sakharov, the Group CEO of WeFi, argues that this obsession with speculation brought attention to the industry but also kept it looking in the wrong direction for too long. Sakharov believes that the next stage of cryptocurrency's evolution will be decided somewhere less glamorous but far more useful: payments.

This view aligns with the size of the market itself. Payments revenue could reach $3 trillion by 2029, and the average cost of sending remittances globally is still 6.49% of the amount sent. The industry has spent too long chasing noise, Sakharov says. The sector spent years chasing institutional money from Wall Street and Silicon Valley. Though his point is not that institutional interest was a mistake. It is that the pursuit of ETFs, regulated custody, and high-net-worth capital pulled focus away from the places where crypto was already being used to solve real problems.

That reading is also closer to what gave birth to crypto in the first place. Bitcoin presented the idea as a peer-to-peer electronic cash system, built so online payments could move directly from one party to another without a financial institution in the middle. Sakharov’s view is that the industry drifted away from that foundation when volatility and trading became the dominant story. That argument carries more weight today because adoption is not a purely Western story anymore. Researchers track countries with distinct use cases taking hold, highlighting markets such as India, Nigeria, Vietnam, and Ukraine. Drivers there include remittances, savings, commerce, and investment.

Sakharov’s view is that the most meaningful growth is happening where people need money to move cleanly across borders, or need a more stable place to hold value. He points to freelancers, small merchants, and households using digital assets for remittances, payments, and savings in unstable economies. These are the areas where cryptocurrency can truly make a difference, he argues.

The shift towards payments is not just about remittances. It also includes everyday transactions, e-commerce, and even government services. By focusing on these areas, the cryptocurrency industry can build a more stable and sustainable future. This is not to say that speculation and trading are not important, but rather that they should not be the sole focus.

Sakharov’s perspective is gaining traction in the industry. More and more companies are recognizing the potential of cryptocurrency in payments. WeFi itself is at the forefront of this movement, offering tools and services to help businesses integrate cryptocurrency payments seamlessly.

The future of cryptocurrency, according to Sakharov, depends on its ability to become a mainstream payment method. This will require a shift in mindset from speculation and trading to practical, everyday use. It will also require collaboration between different stakeholders in the industry, including regulators, businesses, and users.

In conclusion, while the cryptocurrency market has been shaped by speculation and volatility, the future of the industry may well lie in payments. By focusing on this area, the industry can build a more stable and sustainable future, one that solves real problems for people around the world.