Visa, one of the giants in the global financial services field, has already put its hand in the cryptocurrency market through digital wallet partnerships and third-party payment cards, with cryptocurrency companies such as “BlockFi”, “Fold” and “Crypto.com” already issuing Visa branded payment cards.

It seems that Visa has not had enough, with CEO Alfred Kelly now suggesting that cryptocurrencies could run directly on the Visa network in the future.

in a report For “Visa” company, it deals with the company’s profits in the first quarter of 2021, and in its preface came a reference to encrypted digital currencies and the opportunity they provide in the field of digital payment.

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The “Visa” report also provided some data and figures about “Visa” partnerships with other financial companies, many of which are active in the crypto field, as “Visa” held 35 partnerships with a portfolio and a trading platform.

Kelly stated:

In this space (the crypto space), we see ways in which we can add differentiated value to the ecosystem.

We believe we are uniquely positioned to help make cryptocurrencies more secure, useful and viable for payments through our global presence, partnership approach, and trusted brand.

Kelly sees that the crypto industry is divided into two types of digital currencies:

• Bitcoin and cryptocurrency.
• Government-backed stablecoins and traditional currencies such as Central Bank Digital Currencies (CBDCs).

For the first option, Visa believes the best course of action is to continue the partnerships and provide users with a way to withdraw their cryptocurrency as they wish, using their Visa credentials at nearly 70 million merchants around the world.

As for the second point, Kelly referred to her by saying:

These are emerging payments innovations that can be used in global commerce, just like any other fiat currency.

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We think of cryptocurrencies running on public blockchains as additional networks like RTP or ACH networks, so we see them as part of our network strategy.

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He added:

Arguably any digital currency is recognized, there is no reason why we can’t add it to our network, which already supports over 160 currencies today.

The report and the amount of statements made by Mr. Kelly are much clearer than they were last November.

Visa previously claimed that it does not want to enter the cryptocurrency arena, but supports cryptocurrencies and service providers on a larger scale.

It will be interesting to see if this approach changes as the adoption of stablecoins and central bank digital currencies increases in the coming months and years.

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The company “Visa” is heading towards the use of the digital stable currency “USDC” … Details here

Visa plans to support crypto payments globally