Alfred Kelly, CEO of financial services goliath Visa, is unveiling the company’s long-term strategy in the crypto space as cryptocurrencies are set to play a much larger role in the post-pandemic global economy.
Speaking at the CNBC Evolve Summit, Kelly says that as more people turn digital during the pandemic, cryptocurrency is becoming a more prominent player in global transactions and Visa is looking forward to being in the middle of payment flows made through fiat-based cryptocurrencies.
“Crypto is a developing part of payments in the world. It’s in a very nascent state right now.
We are very interested in cryptocurrencies. We are not as interested in crypto that is more of a commodity-based play. We’re interested in crypto that ultimately becomes fiat-based, so there’s a clear understanding of the value when there’s an exchange of crypto for the purchase of a good or a service.”
Kelly reveals that Visa is already working with 25 crypto firms.