Visa

Visa’s Top Official Reveals Payment Giants Ambitious Plan for Crypto Market

Visa Inc, the world’s leading payment firm’s CEO, Al Kelly, revealed the company’s ambitions to dive into the cryptomarket in a big way. Previously, the news reports suggested that the company was working on its strategy to offer crypto services related to Bitcoin, central banks’ digital assets, and stable coins.

Earlier this spring, while talking to a podcast, Kelly highlighted these areas that the payment giant considers part of its long-term strategy to enter the crypto market. Interestingly, during this week’s call, he said,

So our focus is on five different opportunities that we see in this space, and I would say that this is space that we are leaning into in a very big way and I think are extremely well-positioned.

While referring to the state-backed digital currencies or CBDCs, Visa’s head stated that the payment firm is in conversations with banks worldwide about their development and the role Visa can play in that process to adapt with innovation. 

After another payment firm, Mastercard, the announcement revealed its partnership with Gemini in launching their crypto card services. Supporters of blockchain technology describe it as a key step in the acceptance and confidence of the new technology.

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