Visa CEO Al Kelly emphasized that his company is “extremely well positioned” when it comes to cryptocurrency.
Crypto space and Visa
As previously reported, Visa is implementing a multi-faceted strategy as it relates to bitcoin, stablecoins and services related to central bank digital currencies or CBDCs over a longer period of time.
During Tuesday’s earnings call, Kelly made a distinction between different elements of the broader scheme, referring to deals made through crypto-related APIs for cryptocurrencies, crypto-related APIs for financial institutions, and CBDCs for cryptocurrencies.
Regarding CBDCs, Visa claimed that the firm had been in talks with central banks about their development and that the payment firm could play a role in this process.
“We are talking with central banks about the criticality of public / private partnership, and especially the criticality of acceptance, because for these central bank digital currencies to have value, they must be safe in the minds of consumers and have some sort of benefit.