Cryptos have collectively grown to over a $2 trillion valuation, beating out big companies like Apple and Microsoft. Adoption has followed the same trend in recent years. The current count for people investing in crypto has put the number as a little under 10% of the world being invested in crypto.
Visa has been making strategic steps towards total crypto and blockchain support in recent years. According to bitcoinist.com, Visa’s CEO Alfred Kelly said that Visa is making sure that if cryptocurrencies get as big as everyone expects, then they want to be in the middle of it.
Kelly said that crypto could become “extremely popular. He opined that just as much as crypto could be very successful, it could also end up flopping. Kelly explained that even though crypto may not going anywhere, Visa wanted to be ahead of it.
Explaining what may happen with crypto in the next five years, “I don’t know how far the cryptocurrencies are going to take off,” said Kelly. “Let’s say in five years, it was a fad and no big deal or will it be extremely popular? I’m not smart enough to know, but what I’m smart enough to do is make sure our company is in the middle of it today,” Kelly added.
CEO Alfred Kelly said that bitcoin is seen as the digital successor to gold. Thus, the company was working towards enabling the purchase and conversion of cryptocurrencies. Visa plans to enable its customers to seamlessly convert their cryptocurrencies into fiat currency. With Kelly explaining that the company was also focusing on using crypto to move cash and not just being used as payments.
“If it takes off and we get our fair share or more of the volume because we anticipate that it could possibly take off and become a big business, we certainly want to be prepared for that, and I think we’ve got off to a great start,” Kelly stated.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: