In the Leadership Next podcast published Tuesday, Visa CEO Al Kelly, talked about Bitcoin and his company’s cryptocurrency strategy. Given the recent rise in the price of bitcoin, he was asked what it means for the business. CEO, Al Kelly said that he anticipates cryptocurrency could become “extremely mainstream” within five years. He further confirmed that Visa is working to allow Bitcoin purchases, in addition to enabling the cryptocurrency to be used at 70 million stores where Visa is accepted.
“I would like to divide crypto into two buckets,” Kelly began. “One is the more speculative asset” or “digital gold. In that category, we are trying to do two things. One is enable the purchase of Bitcoin on Visa credentials. Secondly, Visa is working with some Bitcoin wallets to allow 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.”
“The other category of crypto is digital currencies. There, we see a strong potential for those to become a new payment vehicle. In fact, it could be an accelerant in some of the emerging markets as we look around the world,” Kelly added.
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