Bitpush Visa CEO: Cryptocurrency could become mainstream within five years

Visa CEO: Cryptocurrency could be mainstream in five yearsNew

Abstract: Visa CEO Al Kelly said in an interview with Fortune magazine that cryptocurrency could become mainstream within five years.

Visa CEO Al Kelly said in an interview with Fortune that cryptocurrencies could become mainstream within five years. More broadly, Kelly said the goal is to get the credit card giant involved in the activities around new payment methods and technologies so that Visa can seize the business opportunities if they do become popular in the mainstream.

In recent months, Visa has inked partnerships with crypto banking startup Anclage and community bank First Boulevard, among others.

Al Kelly said: "While it's impossible to predict exactly, making sure our company is in this market today, we are willing to be prepared for it, and I think we've made a good start."

Kelly also talked about that we are trying to do two things: enable bitcoin purchases on VISA. Secondly, work with some bitcoin wallets to allow bitcoin to be converted into fiat currency.

“We see strong potential for these to become new payment instruments,” especially in emerging markets, Kelly said.

“Of course, in the digital currency space, we are working with a lot of players. We have about 35 different partners.”

“These are fiat-backed currencies, but we allow them to be converted to fiat if possible and put into a wallet that has a Visa card, and the Visa card can also be used with the converted digital currency.”

In a sense, Visa’s cryptocurrency strategy aligns with that of another credit card giant, Mastercard, which has made it clear that it wants to both capture value from the interest surrounding cryptocurrencies and explore business opportunities in the stablecoin space and the future of central bank digital currencies.

Image source: pixabay

byAmy Liu

This article comes from Bitpush.News