In recent years, Visa has taken significant measures toward total crypto and blockchain support. According to Visa CEO Alfred Kelly, if cryptocurrencies become as popular as everyone thinks, Visa wants to be there in the middle of it.
Despite being only a little more than a decade old, cryptocurrency has garnered enormous appeal in its short time in the public eye. Cryptocurrencies have surpassed the $2 trillion valuations of large corporations such as Apple and Microsoft. In recent years, adoption has followed the same pattern. The current estimate for persons investing in cryptocurrency is that a little less than 10% of the world’s population is involved in cryptocurrency.
Comparisons to the emergence of innovative technologies such as the internet demonstrate that crypto is on its way to becoming mainstream in the next five years. As a result, payment giants such as Visa, PayPal, and MasterCard have all established crypto strategies in order to position themselves at the forefront of this new means of payment. Without a question, the titans believe in the future of cryptocurrencies. Giving them all reasons to expand their platforms in order to support these new currencies.
In five years, cryptocurrency might be mainstream.
CEO Alfred Kelly appeared on the “Leadership Next” podcast with Fortune CEO Alan Murray to discuss the future of cryptocurrencies. Kelly shared his predictions for where cryptocurrencies might be in the next five years. According to the CEO, cryptocurrency has the potential to become “very popular.”
On the other hand, Kelly believes that while cryptocurrency has the potential to be highly successful, it might also fail. Kelly noted that, while cryptocurrency may not be going anywhere, Visa wanted to be ahead of the curve. “What I appreciate best about our company, Alan, is that we don’t pick winners and losers,” Kelly explained to Murray.
Explaining what is likely to happen with cryptocurrency in the next five years, “I’m not sure how far cryptocurrencies are going to take off,” Kelly remarked. “Will it be a fad and no big deal in five years, or will it be enormously popular?” I’m not smart enough to know, but I’m smart enough to make sure our company is right in the center of it right now,” Kelly added.
Visa Would Like To Be Prepared
According to CEO Alfred Kelly, bitcoin is viewed as the digital equivalent of gold. As a result, the company was working to make cryptocurrency purchases and conversions possible. Visa intends to make it possible for its users to change their cryptocurrencies into fiat currency in real-time. Kelly explained that the organization was also working on using bitcoin to move cash rather than just payments.
“If it takes off and we get our fair share or more of the volume because we anticipate that it could possibly take off and become a big business, we certainly want to be prepared for that, and I think we’ve got off to a great start,” .
Kelly stated
Visa has long worked to introduce blockchain and cryptocurrency services to its clients. The payments giant also claims a number of agreements with cryptocurrency companies, which have resulted in the implementation of crypto debit cards allowing clients to spend their cryptocurrency. In addition, the company is incorporating blockchain solutions to allow for faster and more efficient transactions on its platform.
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