According to Visa CEO, Company Is Entering Cryptocurrency Space With Big Steps

Visa CEO Al Kelly discussed the payments giant’s cryptocurrency plans and made the firm in this area. “Extremely well positioned” He described it as.

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As we previously reported, Visa is implementing a versatile strategy regarding Bitcoin, stablecoins, and services related to central bank digital currencies or CBDCs over a longer period of time. This is an area he has focused on in the past, including a podcast this spring, while at the time positioning such plans at the intersection of new payment technologies in the context of Visa.

Kelly made a distinction between different elements of the broader scheme, referring to deals made through cryptocurrencies’ spend and purchase, crypto-related APIs for financial institutions, stablecoins, and CBDCs. Kelly said on the subject:

So we are focusing on five different opportunities that we see in this area, and I can say that this is one area that we lean into and think extremely well positioned. “

Regarding CBDCs, Visa suggested that the firm is in talks with central banks about their development and that the payment firm could play a role in this process:

“We are talking about the importance of public / private partnerships with central banks, and especially the importance of acceptance, because for this central bank digital currencies to have value, they will require both to be considered safe in the minds of consumers. And this is something we have a long history of and can help with. And second, they have to have some kind of utility. “

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