January 29, 2023

Visa CEO: 'Staybloins and CBDCs will play an important role in payments'

Article reading time:
1 min.

Visa CEO: 'Staybloins and CBDCs will play an important role in payments'

Al Kelly, CEO of payment company Visa, shared the firm's management's views on private stablecoins and government-owned cryptocurrencies (CBDCs) at its annual shareholder presentation.

Visa remains positive, he saidtuned to distributed ledger technology. Al Kelly and other senior executives of the firm believe that blockchain can be integrated into the Visa platform and become the basis for a new generation of payment infrastructure. And stablecoins will become an important part of the payment sphere:

“It is too early to say, development is at the very beginning.But we continue to believe that stablecoins and state digital currencies have the potential to play an important role in the payments industry. We have many initiatives in this direction.”

Kelly also said that Visa's investment incrypto funds and companies were marginal as the firm's management is committed to investing in the payments ecosystem. Therefore, the “high-profile events” in the cryptocurrency industry in 2022 did not affect the stability of Visa and the funds at its disposal.

“We are focused on maintaining the integrity and development of the Visa payment system and the payments ecosystem as a whole. And, of course, on our reputation,” Kelly emphasized.

It is worth noting that since February 1, Al Kellyresigns as CEO of Visa. He will be replaced by the current president of the company, Ryan McInerney, who is no less positive about the blockchain.

Earlier it was reported that Visa plans to partner with the Ethereum ecosystem to implement automatic payments in cryptocurrency.