The Visa CEO Alfred Kelly says that his company is set to embrace bitcoin (BTC)-related business in earnest, and claims that partnerships in both the crypto and stablecoin sectors are already in the pipelines – while adding his voice to claims that cash is in decline.
Speaking on a Fortune podcast, Kelly claimed that the coronavirus pandemic had hit cash hard, stating,
“We’re trying to […] enable the purchase of bitcoin on Visa credentials. And working with some bitcoin wallets, [we will] allow bitcoin to be translated into a fiat currency.”
This, he added, would allow BTC to “immediately be able to be used at any of the 70 million places around the world where Visa is accepted.”
In the stablecoins field, meanwhile, Kelly said that Visa was currently working with “about 35 different players.”
He stated that fiat-pegged tokens have “a strong potential” to “become a new payment vehicle,” and act as an “accelerant” in “emerging markets around the world.” He said,
“Are we going to say about [crypto] five years that it was a fad, or is it going to become extremely mainstream? I’m not smart enough to know. But what I am smart enough to do is to make sure that our company is in the middle of it today.”
____
Learn more:
– Visa Wants to Work with Exchanges, Wallets on ‘Digital Gold’ Bitcoin
– Crypto Opens Up PayPal, Square, Visa To New Revenue Streams – Fitch
– Visa Develops Offline Payment System that Could Aid CBDC Rollouts
– Visa Makes Stablecoin Push With Circle’s USDC
– Visa Mulls Interoperation With Blockchain as It Evolves Into ‘Network of Networks’
– Visa to Remain ‘Agnostic’ On Crypto, Will Support What Clients’ Demand
bestadmin
