VISA CEO states they see “Bitcoin as Digital Gold” in Earnings Call

Visa CEO Alfred Kelly has revealed the plans of payments giant Visa Inc to enable cryptocurrencies trading on its network. Kelly, who is also chairman of the firm, explains that there is no reason not to add cryptos when these are increasingly becoming “a recognized means of exchange.”

How the Visa CEO Describes the Crypto Market

Kelly stated the following: “we think of the crypt market in two segments. First, there are cryptocurrencies that represent new assets such as Bitcoin. Second, there are digital currencies or stable coins that are directly backed by existing fiat currencies. We see all currencies in that first segment as digital gold. They are predominantly held as assets and are not used as a form of payment in a significant way at this point.”

Visa CEO on Wallets and Exchanges

Kelly continued, “Our strategy here is to work with wallets and exchanges to enable users to purchase these currencies using their Visa credentials or to cash out onto a Visa credential to make a fiat purchase at any of the 70 million merchants where Visa’s accepted globally.”

Key Takeaways

• Alfred Kelly is the CEO and also the chairman of Visa Inc.
• Also, Visa plans to enable cryptocurrencies trading on its network.
• In addition, Kelly says cryptocurrencies are increasingly becoming “a recognized means of exchange.”
• Visa sees all currencies in the first segment, such as Bitcoin, as digital gold.
• Finally, Visa will work with wallets and exchanges so users can purchase these currencies with their Visa credentials.

Related Reading on Creative Geniusess

• Digital Gold Rush – The Crypto Craze and Why Bitcoin is Unstoppable dives into the crypto-mania as the value of Bitcoin skyrocketed.
• Cardano (ADA) Stated to Have Potential to Beat VISA with 1 million transactions per second via “Hydra” Layer features Charles Hoskinson of IOHK.
• Chase Bank Enables Crypto Payments and Teams Up with FCF Pay to Embrace Cryptocurrency Payments covers another bank’s crypto payments.

Learn more about Visa on Wikipedia.

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