Visa CEO Alfred F. Kelly said his company is confident in the ability of stablecoins and CBDCs to facilitate payments. He also added that Visa has a few stablecoin projects underway.
A very good project
Visa’s annual shareholder conference took place last Tuesday. On this occasion, the CEO of the company spoke about future plans regarding CBDCs and stablecoins. Although he finds the technology behind these tools still primary, he thinks they will play a big role in the payments industry. According to Watcher Guruhe also allegedly succinctly revealed that Visa had “ a number of initiatives ” In progress. ” We are in the very early stages, but we continue to believe that stablecoins and central bank digital currencies have the potential to play a significant role in the payments space, and we have a number of initiatives In progress. he reportedly said.
That’s not the big joy right now in the cryptocurrency market. Indeed, it has been falling for more than a year and does not show obvious signs of a permanent rise. A statement like that of the CEO of Visa will perhaps restore some optimism. Even if it should be remembered that the CBDC and stablecoin projects of Visa do not date from today. Indeed, since September 2021, the company has been working on a Blockchain capable of integrating CBDCs and stablecoins.
Will Visa become a crypto business?
During this conference, the CEO insisted that the company’s current payments business would not change. He further reassures that the company has not lost any money due to the crypto winter. In this regard, he says: We have had no credit loss related to these failures […] In everything we do, please know that we are extremely focused on maintaining the integrity of Visa’s payment system and the payment system as a whole and of course our brand reputation is synonymous with trust. »
Over the past years, Visa has worked on several crypto projects. Not all led to achievements, but some have paid off. The future will tell us if this Visa project will be accepted by the community.
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