In a short-run, Visa does not see any jeopardy in digital coins. At the same time, the financial services titan wants to be ready to embrace cryptos when the time comes. This is what the company’s top exec Alfred Kelly announced this week.
The Wind of Change? Visa May Adapt to Cryptos
On October 25, Alfred Kelly spoke to CNBC regarding Visa’s attitude toward virtual money. Unexpectedly for some, the company’s CEO argued they do not see cryptos as their threat, at least in a short term. However, the payment cards giant might adopt cyber-money-related systems once these currencies become more established. Before that, Kelly stated:
"I think there has to be some market that it becomes somewhat like a fiat currency in order for us to be comfortable.»
Concerning the «establishing» part of cryptos, Kelly singled out that Visa might leap onto cyber-money bandwagon only if bitcoin and its brethren shift to being genuine payment instruments. At the moment, Kelly emphasized, they are predominantly commodities.
Once this happens, Visa will «go there» because the giant is eager to be in the epicentre «of every payment flow in the world regardless of how it happens or what the currency is behind it,» explained the company’s CEO.
It is recalled that this year January Kelly was less bullish regarding cryptos. He was adamantly stating he did not see bitcoin and its ilks as a payment system and that Visa would not process crypto-based transactions.
Some days before that the financial company banned a range of European cards, issued by crypto-services providers, including Tenx, Bitwala, and Bitpay. At that time Visa was accusing the companies of not complying with its membership regulations.