Visa plans to strengthen security and expand the use of transactions using cryptocurrencies. This was stated by the CEO of the payment system Alfred Kelly during a teleconference with investors on the financial report for the first quarter of 2021, writes The Block.
The head of Visa plans to enter into partnership agreements with wallet operators and exchanges. This allows customers to buy and sell cryptocurrencies, as well as use them when shopping in fiat.
“The Visa network supports 160 currencies. There is no reason why we shouldn’t expand this list with a specific digital currency. This will happen if it becomes a recognized medium of exchange, ”he stressed.
Kelly differentiates digital assets into two distinct classes. In his mind, Bitcoin is digital gold. National digital currencies (CBDCs) and fiat-backed stablecoins fall under the definition of a “new payment innovation”. The latter have the potential to be used in global e-commerce.
The CEO of Visa allowed the use of cryptocurrencies as a payment option without converting them to fiat.
We will remind, in November 2020, Visa refused to buy the fintech startup Plaid after the suit of the US Department of Justice.
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