In a recent podcast appearance, Visa’s top executive, Alfred Kelly, has disclosed that the top financial gateway company is “trying to do two things. One is (to) enable the purchase of Bitcoin on Visa credentials. And secondly, working with Bitcoin wallets to allow the asset to be translated into a fiat currency and therefore immediately be able to be used at any of the 70 million places around the world where Visa is accepted.”
According to Kelly, the credit-card company would be taking a more proactive step in its crypto strategy. The strategy would cover how the firm interacts with Bitcoin, other crypto assets like stablecoins etc with the aim of placing the financial institution in the right position of taking advantage of opportunities available in the space. This means that Visa wants to be at the centre of the new developments being made in payments methods and technologies driving such methods.
In recent times, the top financial institution has stepped up the rate at which it is partnering with crypto-related firms. The firm has already partnered with crypto banking startup Anchorage and community bank First Boulevard. Both firms would be leveraging the firm’s new suite of crypto APIs, which will enable their customers to purchase, custody, and trade digital assets.