Visa CEO spoke about plans for cryptocurrency payments during a conference call.dedicated to the financial activities of the company for the first quarter of 2021.
In his speech, the CEO of VisaAlfred Kelly said the company is ready to make cryptocurrency payments safer and more widely used by working with the firm's partners.
According to him, Visa plans to work withwallets and exchanges so that users can buy cryptoassets. In addition, the company intends to provide users with the ability to cash out and make purchases in fiat currency using cryptocurrencies.
Kelly also voiced Visa's position ondigital assets. The company currently distinguishes between two classes of crypto assets: assets like bitcoin - digital gold, and assets backed by fiat currencies, including stablecoins and central bank digital currencies. He called the second category "a new payment innovation with potential for global trade."
The Visa CEO also said thatthe company can provide the ability to use cryptocurrency as a payment instrument without first converting it into fiat currency for payments.
“It goes without saying that if a specificdigital currency will become a recognized medium of exchange, there is no reason why we cannot add it to our network, which already supports over 160 currencies today, ”said Kelly.
Last summer, Visa planned to doubleefforts to “shape and support the role of cryptocurrencies in the future of money,” and in December the company offered an offline payment method for government-issued cryptocurrencies.
</p></p>Read this:
Visa will add support for cryptocurrency payments
Visa plans to create a payment system for cryptocurrencies
Visa buys Plaid cryptocurrency startup for $ 5.3 billion
Visa and Circle issue corporate card for USDC payments
Visa filed patent application for digital currency to replace fiat
Visa is developing a blockchain system that can replace financial data aggregators