In an interview with Mad Money’s Jim Cramer, the CEO of Visa Al Kelly pointed out how the firm is open to support digital currencies in the future at any point when the demand and adoption raises to the required as seen from them level.
Mr. Kelly believes that the currencies which Visa uses as base products are not threatened by the virtual coins as an asset class. Parallel, Visa will reply to the demand when crypto-adoption improves in the future.
“I think there has to be some market that it becomes somewhat like a fiat currency in order for us to be comfortable. If it goes in that direction, we will move in that direction. We want to be in the middle, Jim, of every payment flow in the world regardless of how it happens or what the currency is behind it. So if we have to go there, we will go there. But right now, it’s more of a commodity than a payment vehicle.”
The leading credit card service firm could impact heavily the crypto-world and its adoption serving as a platform by which users will send or receive the given value while providing fees to the firm. However, as it seems Visa will only utilize the technology when it hits mainstream level as described in the comment ‘we want to be in the middle of every payment flow in the world.
Also, crypto-users can go for open-source platforms and move/transfer cryptocurrency assets to each-another without the need to pay additional fees to the ‘middleman – platform providing firm’.
– Crypto.com, a Hong-Kong based company formally known as Monaco, is the lucky company that has applied for a license to prepare 100,000 crypto Visa Cards. The cards are set for launch within the next two months, and Singapore will be the starting point followed by the rest of the Asian continent.
Speaking about the subject, Crypto.com’s CEO, Kris Marzalek, had some soothing words for crypto users, saying that the cards will bring peace of mind to users since they can easily liquidate their digital assets into fiat currency whenever they want.