Alfred Kelly, CEO of Visa Inc, recently revealed the payments giant’s plan to launch cryptocurrencies trading on its platform. Quoting cryptocurrencies becoming “a recognized means of exchange.”, Kelly reported that the firm has no reason not to add crypto into its network.
Visa’s global presence as a trusted brand also will enable cryptocurrencies on its platform a safe addition, given the firm’s unique position. Visa will segment its platform crypto into cryptocurrencies and digital currencies (e.g, stablecoins and central bank digital currencies (CBDC) and will be viewed as digital gold, meaning that they will be treated like assets rather than a payment form.
Kelly further stated,
“Our strategy here is to work with wallets and exchanges to enable users to purchase these currencies using their Visa credentials or to cash out onto a Visa credential to make a fiat purchase at any of the 70 million merchants where Visa’s accepted globally.”