March 28, 2024

Visa spokesman calls CBDC major trend in the payment industry

Visa spokesman calls CBDC major trend in the payment industry

The head of Visa's cryptocurrency division said central bank digital currencies (CBDCs) are the most important payment trend in the next decade.

According to Kay Sheffield, interest in thisdirection is increasing, so governments will gradually study it, which will have a serious impact on geopolitics, finance, payment privacy, integration of stablecoins and cryptocurrencies. Adding that this will happen regardless of our personal opinions regarding whether it is good or bad.

Previously Sheffield alsosaid that central banks are not interestedin developing a CBDC for the public due to operational challenges. However, Visa is taking an active interest in this area. For example, it recently became known that the company has filed a patent application for a digital currency to replace fiat money.

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