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

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General Director of PaymentAt Visa's annual presentation to shareholders, Al Kelly shared the firm's management's views on private stablecoins and government-owned cryptocurrencies (CBDC).

According to him, Visa remains positiveconfigured for distributed registry technology. Al Kelly and other top executives at 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’s too early to say, development is in itsbeginning. But we continue to believe that stablecoins and government 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 incryptocurrency funds and companies have been insignificant as the firm's management is committed to investing in the payments ecosystem. Therefore, “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 as of February 1, Al Kellyresigns as CEO of Visa. He will be replaced by the company's current president, Ryan McInerney, who is no less positive about blockchain.

It was previously reported that Visa plans to collaborate with the Ethereum ecosystem to introduce automatic payments in cryptocurrency.