Visa CEO Looks Ahead at the World of Crypto Visa CEO Looks Ahead at the World of Crypto


Visa CEO Looks Ahead at the World of Crypto

updated on:24 Nov 2020

The CEO of Visa is optimistic that more digital currencies will be running on the Visa network in the future.

Alfred Kelly, CEO of payments giant Visa, said that his company sees big potential in digital currencies in the years to come, especially in developing markets with significant numbers of unbanked people, according to CNBC’s report published on Friday.

Crypto is a developing part of payments in the world,” Kelly said, adding, “Ultimately, we could see digital currencies running on the Visa network on a more regular basis,” albeit “a number of years out.”
The company recently acquired Plaid, a company that helps 11,000 financial institutions in the US and 2,700 fintech developers to exchange data.

“We’re a network and increasingly trying to become a network of networks,” Kelly noted, explaining, “Plaid is just at its most simple level another network that we believe fits into a desire to have multiple networks on which we move information and money around the world.”
The Visa CEO added that one of crypto’s biggest advantages lies with the 1.7 billion unbanked people around the world who don’t have access to traditional accounts.

“There are 1.7 billion people on the face of the Earth we think are not banked in a mainstream banking system in whatever country they live in, including some here in the US,” Kelly noted, adding, “We are certainly open to any vehicle that helps facilitate the movement of money around the world. We want to be in the middle of it.”
Simultaneously, Visa plans to cooperate with central banks if—or when—they will start issuing their own central bank digital currencies (CBDCs). While most of these projects are still in the early stages of development, Kelly noted, the company expects that these efforts will come to fruition in the future.

“We continue to expect to work with central banks around the world as they develop digital currencies for the future,” the Visa CEO said. And it looks like that will be with many of them.

Share this Blog with your friends


No Comments

Suggested Content

MicroStrategy Board of Directors Now Paid In Bitcoin

updated on:13 Apr 2021

The board of analytics software company MicroStrategy is now paid in Bitcoin, according to the compa

Continue Reading

Bitcoin 'Doesn’t Fulfill Basic Properties of Money': ECB Board Member

updated on:10 Apr 2021

Isabel Schnabel, Member of the Executive Board of the European Central Bank (ECB), has described Bit

Continue Reading

Bitcoin ETF Approval Will Happen: Morgan Creek’s Mark Yusko

updated on:9 Apr 2021

Morgan Creek Capital Management CEO Mark Yusko has expressed his confidence that a Bitcoin ETF will

Continue Reading

Ukrainian Officials Own $2.67 Billion in Bitcoin: Report

updated on:9 Apr 2021

Civil servants and officials in Ukraine are holding a significant amount of Bitcoin (BTC) and other

Continue Reading

JP Morgan's Jaime Dimon: Bitcoin Regulation a ‘Serious Emerging Issue’

updated on:8 Apr 2021

The legal and regulatory status of Bitcoin and other cryptocurrencies is something that needs to be

Continue Reading