The CEO of Visa, Al Kelly, is in the latest crypto news, this time for expressing his support towards cryptocurrencies in line with embracing consensus currencies such as Bitcoin and Ethereum.
As the head of one of the biggest payment processors told Jim Cramer (in the CNBC-aired show called ‘Mad Money’), cryptocurrency is an asset class that is not a threat to reserve currencies that serve as the basis of Visa products. However, as the adoption of crypto continues, Visa may facilitate the demand for crypto as an asset class.
Kelly stated:
“I think there has to be some market that it becomes somewhat like a fiat currency in order for us to be comfortable. If it goes in that direction, we will move in that direction. We want to be in the middle of every payment flow in the world regardless of how it happens or what the currency is behind it. So if we have to go there, we will go there. But right now, it’s more of a commodity than a payment vehicle.”
In the long run, Kelly plans to push Visa forward and make it a middleman for attracting crypto users to send and receive digital assets with Visa on its platforms, providing fees to the company.
Right now, Visa is the most influential credit card service company in the finance sector and amongst the most profitable businesses in this market along with Mastercard.
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