Visa Might Add Cryptocurrencies To Its Payments Network Says CEO

The multinational financial services firm Visa could soon be joining the crypto bandwagon soon as it is planning on adding digital currencies into its extensive payments network in the near future. Visa’s Chief Executive Officer (CEO) has said in a statement that the company might be adding digital currencies into its payments network.

Alfred Kelly, the CEO of Visa, spoke on the fiscal Q1 2021 call of the company, where he said that the payments giant might include cryptocurrencies into its payments network very soon. He said that the company is in a position where it can make digital assets more useful, applicable, and safe. This shows that Visa is thinking about supporting cryptocurrencies.

Kelly’s comments show that the company has started acknowledging the potential and worth of digital currencies. While talking about cryptocurrencies, Kelly said that they are digital gold, especially Bitcoin (BTC), the first-ever decentralized digital currency in the world. According to Kelly, digital currencies are not being used significantly as a form of payment.

The financial services firm already has its presence in the cryptocurrency industry through its interaction with different wallets and platforms offering cryptocurrency services. Visa-branded products are already being issued by various cryptocurrency firms, including Crypto.com, Fold, and BlockFi.

While adding more to his comments, Kelly talked about the future strategy of the company and said that it intends to work with cryptocurrency exchanges and wallets in order to make it possible for users to buy these digital assets through Visa credentials.

These remarks from Visa’s CEO show that the company has started viewing digital currencies as a legitimate payment method. However, it is not the first company that plans to add support for digital assets rather there are some other financial giants that have already stepped into the cryptocurrency industry to support digital assets. The online payments giant PayPal last year announced support for top digital currencies, including the leading digital currency Bitcoin (BTC) and some others. It has allowed its customers residing in the United States to purchase or sell these supported cryptocurrencies.

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