VISA will focus on 5 key crypto areas!
This is just the start but it is progress towards the solidification of the crypto movement!
The first of the five areas mentioned by the VISA CEO is enabling consumers to purchase these currencies or Bitcoin, noting that they are exerting effort to ensure that they are facilitating the use of Visa cards to buy.
The second one is allowing digital currency cash-outs to fiat, which means converting digital currency to fiat on a Visa credential, making the funds available for shopping at any of the 70 million Visa merchants.
The third area is enabling financial institutions and fintech partners to offer crypto options for their customers. Kelly said they have created APIs that give customers of financial institutions the ability to purchase, hold and even trade digital currencies held by the first federally charted digital asset bank in the U.S., Anchorage.
Meanwhile, the fourth area is settlement. With this regard, Kelly said, “We’ve upgraded our infrastructure to allow a financial institution to settle with these in a digital currency with stablecoin, starting with USDC.”
Kelly said the last area of opportunity and, perhaps one of the most challenging, in the crypto space that they are focusing on is working with central banks.