CEO of Visa: Cryptocurrencies do not pose a threat, we will support them

Visa CEO Alfred Kelly said that the company might support cryptocurrency in the future. For this purpose the market must move towards the adoption of a consensus currency type Bitcoin and Ethereum. Kelly explained to the facilitator of the transmission of Mad Money Jim Cramer that cryptocurrencies are a class of assets that do not threaten the reserve currency. And the growth of the adoption of cryptocurrencies Visa can also contribute to the demand for this asset class.

Of course, cryptocurrency has the potential and the future. However, due to the lack of widespread acceptance among retail sellers owners of cryptocurrencies cannot use these assets for everyday payments. Nobody pays for coffee cryptocurrencies. According to Kelly, the cryptocurrency needs to create a market like Fiat money, then the company will seriously think about.

If cryptocurrencies will go in this direction, and we’ll go in that direction. The point is, Jim, that we want to be inside of any payment channel in the world, no matter what the currency is. But now it’s more product, but not the means of payment.

Visa is the most influential provider of credit cards and one of the most profitable companies on the market along with MasterCard. However, recall that just recently, the CEO of MasterCard called cryptocurrency garbage and both companies decided to classify cryptocurrencies as high-risk assets.

Big bet on Fidelity

On the CCN noted that now is the best time to work with cryptocurrencies is happening right now. This is a relatively new formation is experiencing exponential growth. Already, Fidelity, Goldman Sachs and Citigroup have begun to cater to investors in the cryptocurrency market, considering it is a high demand for the new asset class.

At the same time, Visa, Morgan Stanley and several other financial institutions are cautious and with access to the cryptocurrency markets. More data look at cryptodata.

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