Visa’s Chief Executive Officer, Al Kelly, did an earnings call for the company on Thursday. There, he also spoke about cryptocurrency, what he personally and the company as a whole think about cryptocurrency in general. He also added the company’s commitment towards adding crypto as a possible payment alternative and what their approach would be with it. The firm has been working endlessly for a while now on partnering with the other “financial” sector to introduce crypto directly into financial efficiency.
It was also spoken that the gigantic financial firm, which stakes about $72 billion of assets, as per a report back in 2019, has been trying to pursue cryptocurrencies into its payment systems. Visa has reportedly gone as far as to be in talks to issue cryptocurrency debit cards, as well as a newer startup for cryptocurrency-payment. They also expressed their interest in investing in the company, Zap.
Visa’s Plans With Cryptocurrency
Al Kelly’s responses clearly implied that Visa still had a vast and long-term interest, and perhaps even ready plans in the digital coin sector. The firm also believes that they are in a financial stand where they can actually go ahead with such plans and investments. This also follows the news that the giant financial company had to abandon an acquisition of $5.3 billion on the platform, Plaid. This came and was on “antitrust grounds.”
The CEO said on the call that Visa was in a “unique” space where they can help make the digital coins much “more safe.” The call also mentioned making the cryptocurrencies even more applicable to use for payments but also more useful in many other structures.
From Visa’s perspective, they view blockchains in two different divisions. One is more modern such as Bitcoin, and the other is stablecoins. Their actual goal, according to Al, is to enable its subscribers to directly purchase cryptocurrencies with their Visa cards and credentials.
This decision may have occurred from the DeFi sector’s rise.
