Cryptocurrency Visa CEO Al Kelly, who continues to work on developing the platform, said that despite these steps of his company, he has doubts about the usage areas of the crypto money industry.
Kelly, in his latest statement, “What is the problem cryptocurrencies are trying to solve?” posed a question. With these words, the famous CEO criticized the general judgment that cryptocurrencies solve a problem.
Visa CEO: “Not Sure Cryptocurrency Will Work In Developed Markets Like USA and Canada”
Kelly said cryptocurrencies can be quite useful in emerging markets where cash can be “dangerous,” but he is unsure about their role in countries like the US and Canada.
Despite this, the Visa CEO added that his companies will continue to play a role in the crypto industry, with customers ultimately deciding whether cryptocurrencies make sense.
In the last quarter of last year, Al Kelly stated that Visa users spent $2.5 billion with crypto-related cards. This value attracted attention as a large increase compared to previous quarters.
Kelly also said that the company will facilitate the purchase of cryptocurrencies in addition to crypto payments, and together with stablecoin providers, they will create a use case for cryptos and provide access to cryptocurrencies to financial institutions and fintech companies.
Credit card giants Visa and Mastercard have recently made a name for themselves with their new initiatives in the crypto money market.