Visa seems to be bullish about the future of the cryptocurrency space. The CEO of the company, Al Kelly, informed that they are working in order to offer crypto payments and onramps for clients. The information was released during an earnings call a few days ago. This shows the market continues to attract large players to the industry.
Visa Crypto Plans on Track
According to VISA’s CEO, they are well-positioned in order to make cryptocurrencies safe to use. Moreover, he stated that they can make them very useful for payments through integration to the Visa ecosystem.
On the matter, he stated:
“We believe that we are uniquely positioned to help make cryptocurrencies more safe, useful and applicable for payments, by virtue of Visa’s size, integrations, and brand recognition.”
Of course, the difference between traditional cryptocurrencies such as Bitcoin (BTC) or Ethereum (ETH), and Stablecoins – such as Tether (USDT) – has been present. Indeed, Kelly has been clear about the fact that stablecoins could be used routinely for payments and transactions.
In addition to it, Kelly noted that they want to help crypto exchange customers to purchase digital currencies using Visa credentials. At the same time, they want to offer users the possibility to cash their funds out to their Visa credentials.
Nowadays, users can withdraw their funds using different systems and platforms. Exchanges allow users to link some of their bank accounts to their exchanges and withdraw the funds there. However, not every exchange offers this possibility. At the same time, having another method to withdraw and deposit funds could be a good thing for the crypto market.
Visa remains bullish about the expansion of stablecoins and how they can help enhance global commerce. Stablecoins do not have a fluctuating price such as Bitcoin or other digital assets. The funds can be sent and received seamlessly across borders and they do not need to get settled as in the banking industry.
In recent months, several companies have purchased Bitcoin and added it to their balance sheets. Some of these firms include MassMutual, MicroStrategy or Square, among others. In addition to it, BTC surged to almost $42,000, the highest price ever reached by this virtual currency.
Analysts consider BTC could continue expanding in the coming months or throughout 2021. Visa shows it is bullish about the future of the crypto market by offering new solutions and services. In this way, investors would have the possibility to invest in digital assets in an easier way.