• Visa CEO Alfred Kelly believes that stablecoins and CBDCs will play a meaningful role in the payments space.
• Visa has invested in multiple crypto funds and companies, and has a complementary and competitive relationship with cryptocurrencies.
• The company’s annual report also mentions their exploration of new opportunities and risks in the blockchain space.
Visa, the world’s largest credit card company, recently released their 2022 annual report and held a conference call discussing the implications of cryptocurrencies on the payment space. Alfred Kelly, CEO of Visa, spoke to shareholders about the future of stablecoins and central bank digital currencies (CBDCs), noting that they will have a “meaningful role” in the payments space.
Visa has already made multiple investments in the crypto space, including various funds and companies. Kelly noted that the company’s relationship with cryptocurrencies is both complementary and competitive – while they pose both opportunities and threats, Visa is exploring them and looking for new opportunities to use blockchain technology.
The company’s annual report also mentioned their exploration of the blockchain space. It noted that Visa has already started “multiple initiatives” in the space, and will continue to monitor any new risks and opportunities that arise from the use of cryptocurrencies. The report also stated that Visa is committed to staying up-to-date with the ever-evolving payments landscape and exploring potential uses of cryptocurrencies.
The report concluded with a reiteration of Visa’s commitment to staying ahead of the curve in the payments space, exploring new technologies and expanding their offerings. As CEO Alfred Kelly stated, Visa believes that stablecoins and CBDCs will have a “meaningful role” in the future of payments. The company is actively investing in and exploring these new technologies, and is looking to capitalize on the opportunities they present.