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Visa CEO Al Kelly said the payments giant is in a position to make more "safe, useful and applicable" cryptocurrencies and can add them to the payments network of the company. Kelly described cryptocurrencies such as bitcoin as "digital gold" that "are not used as a form of payment in a significant way at this point," speaking about the company's fiscal first-quarter 2021 earnings call.
"Our strategy here is to work with wallets and exchanges to allow users to use their Visa credentials to purchase these currencies or to cash out on our Visa credential to make a fiat purchase at any of the 70 million merchants where Visa is globally accepted," said Kelly.
The payments executive also stated that stablecoins could be used for "global commerce" and that "digital currencies, such as RTP or ACH networks, run on public blockchains as additional networks."
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