Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Visa Moving Into Cryptocurrency 'in a Very, Very Big Way', Says Visa CEO

Visa Moving Into Cryptocurrency 'in a Very, Very Big Way', Says Visa CEO

Visa CEO Al Kelly says that the payments giant is leaning into the cryptocurrency space “in a very, very big way.” He outlines five key areas of crypto opportunities that Visa is focusing on, stating that his company is “extremely well-positioned.”

5 Crypto Areas that Visa is Focusing on

During Visa’s earnings call for the period ended March 31 last week, the payments giant outlined its commitment to the crypto space, highlighting five key areas the company is focusing on.

Al Kelly, Visa’s chairman and chief executive officer, began by noting that there are “two market segments” his company sees in the crypto space. One is bitcoin, which he described as “primarily” an asset held by people. “We kind of think of them as the digital gold,” he continued. “Then there are digital currencies, including central bank digital currencies [CBDCs] and stablecoins that are directly backed by existing fiat currencies.”

The CEO further revealed:

“Our focus is on five different opportunities that we see in this space. And I would say that this is a space that we are leaning into in a very, very big way and I think are extremely well-positioned.“

The first opportunity the Visa CEO outlined is “enabling consumers to make a purchase of these currencies or bitcoin.” He elaborated, “we’re working hard with wallets and exchanges to just make sure we’re facilitating acceptance in people’s ability to use their Visa cards to buy.”

The second opportunity is “enabling digital-currency cash-outs to fiat,” Kelly explained, adding that it means “converting a digital currency to a fiat on a Visa credential, which then makes those funds available for shopping at any one of the 70 million Visa merchants and gives immediate utility to the digital currency.”

The CEO noted: “We’ve got over 35 digital-currency platforms and wallets that have chosen to work with us. Coinbase, Crypto.com, Blockfi, Fold, Bitpanda are just some examples. And so that’s certainly a second big opportunity.”

The third opportunity in the crypto space Visa is focusing on is enabling financial institutions and fintech partners to be able to offer a crypto option for their customers.

Kelly explained that Visa has “created APIs that enable financial institution customers to purchase, custody, or even trade digital currencies held by Anchorage, which is the first federally charted digital asset bank in the U.S. And we’ve done our first rollout with First Boulevard, which is a digital neobank focused on building generational wealth for the black community.”

The fourth opportunity is “settlement,” which the CEO said: “We’ve upgraded our infrastructure to allow a financial institution to settle with these in a digital currency with stablecoin, starting with USDC.” The last area of opportunity in the crypto space “is just working with central banks,” Kelly concluded.

Source: Fintechs.fi – Fintech News

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
The Personality Rights Challenge in India’s AI Era
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Study Finds No Safe Level of Alcohol for Dementia Risk
Trump Says Ukraine Can Fully Restore Borders with NATO Backing
Europe Signals Stronger Support for Taiwan at Major Taipei Defence Show
Germany Weighs Excluding France from Key European Fighter Jet Programme
Cyberattack Disrupts Check-in and Boarding Systems at Major European Airports
Björn Borg Breaks Silence: Memoir Reveals Addiction, Shame and Cancer Battle
When Extremism Hijacks Idealism: How the Baader-Meinhof Gang Emerged and Fell
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
Trump Orders $100,000 Fee on H-1B Visas and Launches ‘Gold Card’ Immigration Pathway
France’s Looming Budget Crisis and Political Fracture Raise Fears of Becoming Europe’s “Sick Man”
Three Russian MiG-31 Jets Breach Estonian Airspace in ‘Unprecedentedly Brazen’ NATO Incident
European manufacturers against ban on polluting cars: "The industry may collapse"
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
Christian Brueckner Released from German Prison after Serving Unrelated Sentence
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
The conservative right spreads westward: a huge achievement for 'Alternative for Germany' in local elections
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
U.S. and China Agree on Framework to Shift TikTok to American Ownership
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
The New Life of Novak Djokovic
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Vatican hosts first Catholic LGBTQ pilgrimage
Apple Unveils iPhone 17 Series, iPhone Air, Apple Watch 11 and More at 'Awe Dropping' Event
France joins Eurozone’s ‘periphery’ as turmoil deepens, say investors
France Faces New Political Crisis, again, as Prime Minister Bayrou Pushed Out
Nayib Bukele Points Out Belgian Hypocrisy as Brussels Considers Sending Army into the Streets
France, at an Impasse, Heads Toward Another Government Collapse
×