Paytm CEO Doubles Down on Crypto, Says it Will Go Mainstream in 5 Years

Paytm’s founder and Chief Executive Officer Vijay Shekhar Sharma has doubled down on his trust in crypto’s ability to go mainstream in the next 5 years.

Speaking at the annual session of the Indian Chamber of Commerce, Sharma admonished Federal regulators to take a stand in relation to crypto regulations, adding that the clarity this will bring will help fence-sitters to take a firm stand as it concerns the nascent asset class.

“Crypto will become a mainstream tech in 5 years and will have use cases that we cannot live without just like we cannot live without the internet today,” he said, adding. “I fundamentally believe the government should officially take a stand because after that we all who are thinking about it, for them the problem will be solved.”

Paytm is an Indian multinational technology company that specializes in digital payment systems, e-commerce and finance. As a homegrown startup, the company currently rakes in about $460 million in revenue and is arguably one of the biggest payment service providers in the Asian nation. In line with his love for crypto, Sharma acknowledged that he has his gaze fixed on setting up a digital currency trading platform in the near future.

Replying to a question on whether he will consider setting up a crypto exchange, Sharma said, “The answer is 100 percent. It’s a question like do you believe in smartphones or do you believe in the internet.”

The position of Sharma is in line with those of the company’s Chief Financial Officer Madhur Deora who said earlier this month that the firm will be willing to add Bitcoin payment services should regulations governing the asset class be improved in the near future.

Global payment service providers including Paypal and Cash App amongst others are already taking advantage of the surge in crypto popularity and have since integrated digital currencies into their respective platforms.

Image source: Shutterstock


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