Visa CEO Al Kelly discussed crypto ambitions during earning call! Visa CEO Al Kelly described his company’s ambitions for crypto, describing their position as “extremely well-positioned”.
Visa is undertaking a multi-pronged strategy as it relates to its services related to Bitcoin, stablecoins, and central bank digital currencies, or CBDCs.
During the company’s earnings call on Tuesday, Kelly drew a distinction between the different elements of the broader plan, citing the spending and purchase of cryptocurrencies, API’s for financial institutions, settlements via stablecoins, and CBDCs.
“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,” Kelly said during the call.
Regarding CBDCs, Visa said that their firm is in conversation with central banks and positioning themselves as a firm that could play a payments role.
“We’re talking to central banks about the criticality of public/private partnership and in particular the criticality of acceptance because for these central bank digital currencies to have value, they’re going to have to both be secure in the minds of consumers, and that’s something we have a long track record with and could help. And then secondly, obviously they have to have some form of utility,” Kelly said.
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