According to the latest reports, Visa CEO Al Keppy discussed the payments giant’s crypto plans – this took place during an earnings call on Tuesday and describes the company as extremely well-positioned to do so.
It’s been already reported the fact that Visa is flaunting a strategy that involves crypto as well, as it related to its services related to BTC, stablecoins and CBDCs.
During a recent earnings call, Kelly made a comparison between the different elements of the broader plan – he cited the spending and purchase of cryptos, crypto-related APIs 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 stated.
Visa is in the talks with central banks
Regarding the topic of CBDCs, Visa said that the firm is in the talks with central banks about their development. Vis also suggested that they will play a role in that process.
“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.
Visa allows payment settlements using crypto
Back in March, we were revealing that Visa is breaking the crypto space with amazing news. This will definitely help the mainstream adoption of crypto and Bitcoin.
It’s been just revealed that Visa is moving to allow payment settlements using USDC.
“Visa Inc said on Monday it would allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry,” Reuters notes.