Visa Wants to Work with Exchanges, Wallets on ‘Digital Gold’ Bitcoin

Alfred Kelly. Source: a video screenshot, Youtube, Business Live ME

The CEO of payment giant Visa has stated that the company wants to “work with wallets and exchanges” when dealing with crypto to make its own card solutions interoperable with digital tokens – and has called Bitcoin (BTC) and other “cryptocurrencies”. digital gold. “

The remarks were made yesterday by Visa chief Alfred Kelly in a call for earnings. During his presentation, Kelly spent a lot of time discussing crypto. After distinguishing a gap between “cryptocurrencies, which are new assets like bitcoin” and “digital currencies and stablecoins” backed by fiat holdings, he said:

“We see everything [cryptocurrencies] than digital gold. They are predominantly held as assets that are not used in any significant way as means of payment at this point in time. Our strategy is to work with wallets and exchanges so that users can buy these currencies using their Visa credentials or cash out our Visa credentials to purchase fiat[s]. ”

The Visa chief seemed interested in keeping the door open to all promising crypto projects, promising that “a certain digital currency should become a recognized medium of exchange, there is no reason why we should not add it to our network that it already supports over 160 currencies. “

And Kelly seemed ready to woo the custom of stablecoin issuers as well as central banks that issue digital currencies. He said,

“To the […] Stable coins and central bank digital currencies are an emerging payment innovation that, like any other fiat currency, has the potential to be used for global trade. We see digital currencies running on public blockchains as additional networks […] We see them as part of our network strategy. […] We are the clear leader in this area. “

Kelly was also keen to point out that he has already signed 35 partnership agreements with what he calls “leaders in digital currencies and wallets,” including name verifications for Crypto.com, BlockFi, Fold and BitPanda.

“The next leading network has a fraction of that.”

BTC is trading at $ 32,677 (08:46 UTC) and is up 4.6% in one day and 5% in one week. It increased 19% in a month and 250% in a year.
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Learn more:
Launch of strike visa cards in the US, EU and UK in the first half of 2021
Visa is developing an offline payment system that could support the introduction of CBDC
Visa brings Stablecoin Push with Circle’s USDC
Visa Mull’s interoperation with blockchain is evolving into a “network of networks”
The visa to stay “agnostic” with crypto will support customer demand

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