Visa CEO: cryptocurrency is not a big threat, but if necessary, we will support it!
According to Al Kelly , CEO of Visa, the company can support cryptocurrency in the future if the global market moves towards embracing consensus currencies such as Bitcoin and Ethereum.
Short and Medium Term
In the short and medium term, Kelly told Jim Kramer, the owner of Mad Money, that cryptoterms as an asset class do not pose a threat to reserve currencies, which are the basis of Visa products. But he said that as cryptothermia improves in the coming years, Visa will simplify the demand for an asset class.
“I think that there must be some kind of market so that it becomes something like fiat currency so that we can be comfortable. If he goes in that direction, we will move in that direction. We want to be in the middle of Jim, every stream of payments in the world, no matter how it happens or what is the currency behind it. Therefore, if we are going to enter, then we will enter there. But now it’s more a commodity than a payment system. ”
- In the medium term, Visa is the most influential credit card company in the financial sector and is one of the most profitable companies in the market along with Mastercard.
- In the long run, Kelly emphasized that Visa will eventually become an intermediary for attracting crypto users to send and receive digital assets using Visa on their platforms, providing company fees
However, by the time Visa feels free to integrate crypto-conversions, as the CEO said, as long as the asset class is installed using the mainstream, cryptocurrency will not require intermediaries to process payments.
Using non-custodial wallets and open source platforms, users of crypto-conversions can efficiently and safely transfer digital assets without paying additional fees for transit fees provided to ecosystem miners .
Currently, due to the lack of adoption by merchants, users of kryptons are difficult to compensate for sellers to buy simple products, such as coffee and food. A Visa-sized financial institution can single-handedly increase the use of high-volume cryptography among traders
But Visa’s goal of targeting the cryptocurrency sector is to provide intermediary services in a few years when cryptocurrencies are already accepted by sellers and used as an alternative currency for reserving currencies such as the US dollar.
Big bet fidelity
The time of support and experimentation with cryptocurrency now, when it is experiencing exponential growth and is still at an early stage.
Over the years, the cryptocurrency sector could rely heavily on decentralized systems and services.
Site source: https://www.ccn.com/visa-ceo-crypto-is-not-a-big-threat-but-if-needed-we-will-support-it/
Article translated and published: Leonid Shchekutev, analyst at Freedman Club Crypto News
