The CEO of the world payment system spoke about plans to provide financial services related to the purchase of bitcoins. In his opinion, digital money will become widespread in the next five years.
During a talk on Fortune’s Leadership Next podcast, VISA CEO Alfred Kelly revealed that the company plans to allow the purchase of bitcoins within the payment system.
“We’re trying to do two things. One is enable the purchase of bitcoin on Visa credentials. And secondly, working with bitcoin wallets to allow the bitcoin to be translated into a fiat currency and therefore immediately be able to be used at any of the 70 million places around the world where Visa is accepted.”
Kelly suggested that digital currencies have “a strong potential for those to become a new payment vehicle,” especially in emerging markets. He noted that the company cooperates with 35 digital money players.
In February, VISA announced plans to launch application programming interfaces (APIs) for banks, which will allow its customers to organize services for buying, storing and trading digital assets. The first bank to access the new API is supposed to be First Boulevard, an African-American digital bank.