Visa is making headlines again in relation to the crypto space.
Visa’s crypto game is revealed
It’s been just revealed that the chairman and CEO of financial services firm Visa, Alfred Kelly, unveiled the company’s crypto game plan going forward.
In an earnings call, Kelly addressed the “growing interest” in crypto and outlined the company’s outlook on the sector and the ways in which it plans to take part in this continuously growing trend.
Kelly said that the payments giant plans to let its users buy and sell crypto that is viewed as “digital gold” and “predominantly held as assets” such as Bitcoin.
“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 our Visa credential to make a fiat purchase at any of the 70 million merchants where Visa is accepted globally,” according to what he had to say.
Boosing crypto adoption
He also said that Visa views digital currencies operating on public blockchains in the same light as traditional banking networks such as the Real-Time Payments (RTP) and the Automated Clearing House (ACH) systems.
“We think of digital currencies running on public blockchains as additional networks just like RTP or ACH networks, so we see them as part of our network of networks strategy. Across both of these segments, we are the clear leader in this space,” he said as cited by the online publication the Daily Hodl.
He also said that Visa is open to adding more digital assets, and he addressed new partnerships.
“…To the extent a specific digital currency becomes a recognized means of exchange, there’s no reason why we cannot add it to our network, which already supports over 160 currencies today…” he said.
Visa is definitely an important player in the mass adoption of digital assets these days.