Visa wants users of these companies to buy cryptocurrencies with their credentials. The company does not rule out the possibility of integrating a cryptocurrency into its payment network.
Visa, the world’s second-largest card payments organization, plans to work with bitcoin exchanges and wallets. Its CEO, Alfred Kelly, expressed Visa’s interest in cryptocurrencies. Kelly pointed out that the multinational will offer its payment network for the cryptocurrency market.
Kelly’s remarks came at the most recent Visa Earnings Conference via phone call. In this event, the manager described cryptocurrencies as “digital gold” and talked about them as a new type of asset that its use as a form of payment is unusual. Despite this feature, Alfred Kelly confirmed that the company is looking forward to creating financial solutions that are interoperable with this market.
“Our strategy is to work with wallets and exchanges to allow users to purchase coins using their Visa credentials,” stressed the CEO. The first time the company publicly spoke about its interest in working with the cryptocurrency ecosystem since almost three years ago, Alfred Kelly declared that the company would not process any transaction based on cryptographic assets.
According to its executive board, Visa has 35 association agreements with platforms that dedicate efforts to exchanging or handling bitcoins and other cryptocurrencies. Kelly pointed out names like Crypto.com, BlockFi, Fold, and even BitPanda in the presentation; these are some of the companies with the opportunity to offer Visa services to their users soon.
Bitcoin Could Become a More Used Form of Money Exchange
The company keeps itself open to every single possibility that shortly, any of these cryptocurrencies, whether Bitcoin or another, could become a form of money exchange ultimately. In this regard, Kelly assured that they could add such assets to their network since it would be compatible with the other 160 fiat currencies’ processing.
The Visa board also has stablecoins and digital currencies from central banks, such as the digital yuan. Based on his presentation, Kelly says that products like these have great potential to be a tool that could consolidate global trades. They also contemplate commercial strategies to unify said blockchain networks into their network and work together.
This growing interest is a turn of the wheel that could show the increasingly promising future of digital currencies and their positive impact on society. Likewise, these events describe bitcoin as a triumphant cryptocurrency that has already planted a throne in the crypto world.
Bitcoin has the potential to handle payment giants, including financial monsters like Mastercard. Bitcoin is paving the way to reign over the market. That is a milestone that gives a lot to talk about the topic.
By: Jenson Nuñez
