Visa CEO: Crypto is Not a Big Threat But if Needed, We Will Support it

Crypto News | Latest News

The CEO of Visa, Al Kelly, recently stated that the company could support cryptocurrency in the near future as the global marketplace moves towards embracing more currencies like Bitcoin and Ethereum.

Kelly recently spoke with Jim Cramer, the host of Mad Money, and stated that “cryptocurrency is an asset class that is not currently a threat to reserve currencies which serve as a fundamental basis for Visa products. The adoption of cryptocurrencies will improve in the following years, and Visa plans on facilitating the demand for this asset once this shift occurs.”

“I believe the market has to closely resemble fiat currency in order for us to be comfortable with it. If it moves in that direction, we will certainly move in that direction as well. Visa wants to be in the middle of every payment transaction in the world regardless of how it happens or what currency is behind it. At the moment, it’s more of a commodity than a payment vehicle, however we will support the currency if more of the public chooses to utilize it in that way.”

Visa in the Middle

Visa is currently the most influential credit card company within the financial sector as well as the most profitable in the market. Kelly emphasized that the company will serve as the middleman in order to attract crypto users to receive and send the digital assets via the visa platform, which will in turn provide fees to the company.

On the other hand, by the time Visa feels comfortable enough to integrate cryptocurrency’s within their established mainstream platform, cryptocurrency would not require a middleman in order to process payments. With online wallets and open source platforms, users can easily and efficiently secure their digital transactions without paying additional fees.

At the moment, due to the lack of adoption by mainstream merchants, it’s a bit difficult for cryptocurrency users to compensate merchants for purchasing simple products like food and coffee. Visa could single-handedly increase the adoption rates of crypto users and merchants in a much larger capacity than the more slow organic adoption that the currency is currently experiencing.

Big Bet on Investment Firms

Goldman Sachs, Fidelity, and Citigroup have already started to serve investors within the cryptocurrency marketplace by analyzing the demand for the new asset class while Morgan Stanley, Visa, and several other financial institutions remain cautious.

Within the next few years, the cryptocurrency sector could rely heavily on decentralized systems and exchanges which platforms like Binance are anticipating, as seen within the recent developments of the Binance Decentralized Exchange.

The time to experiment and support cryptocurrency is now, as it is experiencing exponential growth during its early adoption phase, which will only garner more attention as the currency moves forward.

Author: Cryptobonx

Cryptobonx is a Crypto –Currency and Blockchain Enthusiast.He is a believer of transforming complex information into simple, actionable content.

Leave a Comment

Latest Crypto News

CNBC Reporting the surge of bitcoin to $100 back in 2013!!

https://www.youtube.com/watch?v=O3XvCbh8pQU reddit Buffer Facebook Twitter Author: CryptobonxCryptobonx is a Crypto –Currency and Blockchain Enthusiast.He is a believer of transforming complex information into simple, actionable content.

After Raising $80Million TenX Founder Linked to Pyramid Scheme

TenX president Julian Hosp has been implicated in connection with an Austrian discount shopping service called Lyoness. Lyoness has been declared an illegal pyramid scheme in Norway, Austria, and Switzerland. A video has emerged that appears to show Hosp presenting an

CoinAlpha Gets SEC on Their Ass

CoinAlpha got served with a cease and desist order today from the SEC on the grounds of operating as an unregistered entity. The SEC also accuses the company of being sneaky in the way of

Gazprom Bank Crypto Moves

In terms of assets, the above-mentioned bank is the third largest in Russia, with a management capital in form of assets worth $3.1 billion. And for this reason, for a renowned world power in every

Argo Blockchain Not Feeling the Crypto Winter

Crypto mining company Argo today reported that in the midst of the current bear crypto market, it is registering significant growth and more demand. Up until mid-November, Bitcoin prices had been holding out at the

Who Is Bitcoin’s Anonymous Whale?

A wealthy Bitcoin wallet which had remained inactive for the last 5 years made a surprising hefty deposit of 66, 233 BTC  ($256 million) two days ago. Now, Bitcoin whales (people who hold large amounts

Nexo Dividend Pay-outs Catapults it to the Top

Nexo is a blockchain based system that allows users to access instant loans in fiat dollars by using cryptocurrencies as collateral. This was interesting as the only way cryptocurrencies were in use was through selling

G-20 Okays Cryptocurrency Taxation

Regulation of cryptocurrencies has been a long time coming with the process full of twists and turns. Many countries have set up legislation or are in the process of doing so; it’s not unnatural that

Madness: Venezuela Raises Its Cryptocurrency Price

Venezuela’s President Nicholas Maduro announced on national television on Thursday that the country’s native cryptocurrency Petro’s price had been increased from 3,600 sovereign bolivars to 9,000. Petro was launched early 2018 in the middle of

A Flying Look At Blockchain Tech And Bitcoin

Do you need to know more about Bitcoin and blockchain tech in a hurry? Want to learn what mining is or what block time is? Or just more about the topic in general? The sheer

Sign Up Below!
Airdroppin the Latest Crypto News, Trading Strategies, Tools, & Reviews



1
Bitcoin
Bitcoin
$3,412.57
-4.27%
3
Ethereum
Ethereum
$88.532
-5.03%
2
XRP
XRP
$0.3000
-2.47%
6
Bitcoin Cash
Bitcoin Cash
$102.78
-4.38%
9
Litecoin
Litecoin
$24.012
-4.88%
11
Cardano
Cardano
$0.029174
-6.07%
4
Stellar
Stellar
$0.1145
-4.75%
18
NEO
NEO
$5.897
-5.81%
7
EOS
EOS
$1.8527
-8.81%
13
IOTA
IOTA
$0.2406
-0.63%

Crypto Guides & Tutorials

 Crypto Reviews

Subscribe to Our Social Media Daily Crypto Memes
Follow, Like, and Share Our Memes With The World


Pin It on Pinterest

Plus Free Crypto Trading Guides, Tutorials, Latest Crypto News,
and Altcoin Reviews. (Coming Soon: Pro Trading Signals)
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
Plus Free Crypto Trading Guides, Tutorials,
Latest Crypto News, and Altcoin Reviews
(Coming Soon: Pro Trading Signals)
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK
Plus Free Crypto Trading Guides, Tutorials, Latest Crypto News,
and Altcoin Reviews. (Coming Soon: Pro Trading Signals)
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
Plus Free Crypto Trading Guides, Tutorials,
Latest Crypto News, and Altcoin Reviews
(Coming Soon: Pro Trading Signals)
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK