Visa allocated a segment for crypto today in its 2021 first quarter targets. In his statements, CEO Alfred Kelly said Visa is ready to make crypto payments more secure and is being used more widely through its partnership approach.
Kelly said Visa plans to work with wallets and exchanges to enable Visa users to purchase crypto assets and enable users to withdraw money and make fiat purchases with their crypto.
During the meeting, Kelly talked about how the payments giant sees digital assets. Currently Visa sees two types of digital assets, according to Kelly. Those representing new assets like Bitcoin, and those with fiat backing, including fixed currencies and central bank digital currencies. He named the second category “a new payments innovation that could have the potential to be used for global trade.”
The possibility of using crypto as a payment
Kelly also highlights the possibility of Visa using crypto as a payment rather than converting crypto to fiat for payments.
“To the extent that a particular digital currency has become a recognized exchange tool, there is no reason we cannot add it to our network that currently supports over 160 currencies,” says Kelly.