VISA Execs Focus on Crypto And Blockchain Development As Its The Future Of Payments

2020-9-24 18:20

Two of Visa’s largest executives in charge of crypto payments and blockchain technology gave a detailed interview on the overall crypto ecosystem. The interview of the pair, by Forbes, touched on how the company is structuring its business on the crypto and blockchain front to integrate innovative solutions to current payment problems.

The executives also highlighted the impact of the central bank’s digital currencies (CBDCs), stablecoins such as Libra, and the future of digital payments, cryptocurrencies, and blockchain in Visa’s strategy.

Visa Executives share firm’s visions in crypto and blockchain

As SVP global head of fintech at Visa, Terry Angelos handles a distributed network of groups building solutions on blockchain and deals with clients in the crypto space. Cuy Sheffield’s role as the senior director in charge of crypto at Visa speaks on the way Visa’s fintech clients in the crypto and blockchain space can leverage existing products.

Visa has been making partnerships across the globe – recently partnering with Coinbase exchange, which saw the crypto exchange become the first Visa cards issuer. The partnership has since made waves across the crypto universe. Other recent partnerships include;

Bitcoin Lightning Payment Startup LastBit Crypto Lender Cred eToro Non-Custodial Lightning Network Wallet Zap

Responding on the number of crypto and blockchain clients Visa has so far, Terry said,

“So far, we have onboarded about 25 companies from around the world that are at various stages of development. Given this diversity, our engagement with them can go down a few different paths. First, there are very large and established companies like Coinbase, which we simply treat as strategic fintech clients.”

Further clarifying the distinction between how they rank their clients, Terry explained crypto companies as those that work with “assets that are natively issued onto a blockchain.” On the other hand, digital currencies are defined as “tokenized versions of fiat, such as what Coinbase and Circle are doing with USDC.”

A clear look on CBDCs from Visa

On the subject of the development of central bank digital currencies, Sheffield said Visa is ‘closely working with some of them in the development of a CBDC”. He stated for CBDCs to gain global traction, the assets must-have utility and should be acceptable by merchants,

“We think there’s a big opportunity for Visa to leverage our existing network and assets and expertise to add value to both central banks as they think about CBDCs, as well as to other private sector entities that are exploring these privately issued stable coins.”

Read More: CBDC’s Are The Future Of Money & Payment Ecosystems: Visa's Head Of Crypto

Visa also led the founding team of the Libra Association before quitting a year ago, claiming they are concentrating on their payment projects. Cuy further explained that Visa is currently not looking for a consortium (recently joined Chamber of Digital Commerce) after leaving the Libra Association. He added,

“I doubt that we would join any exclusively.”

On his closing remarks, Terry highlighted that Visa is focusing on launching offline digital currency payment solutions in the future. He remarked, “One area that we’ve spent time on as well is offline digital currency payments,” he remarked.

“When central banks think about CBDCs, one of the potential features that they are paying attention to is offline payments.”

The post VISA Execs Focus on Crypto And Blockchain Development As Its The Future Of Payments first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0072296 (-100%)

crypto blockchain visa payments interview forbes touched

crypto blockchain → Результатов: 126


Don’t Miss Out: Get Ready for International Crypto, Blockchain & Metaverse Expo 2023 (ICBM Expo) – An Unforgettable Experience at the Crypto, Blockchain & Metaverse Exhibition!

Are you looking to be part of an incredible event that will give you the best insight into the world of crypto, blockchain and metaverse? Look no further than International Crypto, Blockchain & Metaverse Expo ICBM Expo will take place on 7th – 8th Sep 2023 at Festival Arena Dubai.

2023-5-10 18:58


Crypto Valley запустила фонд с фокусом на блокчейн-стартапы из Африки

Базирующаяся в Швейцарии Crypto Valley Venture Capital (CV VC) сообщила о запуске фонда для поддержки африканских блокчейн-стартапов на ранней стадии. JUST IN: Crypto Valley Venture Capital Launches African Blockchain Early-Stage Fund➡️ @CV_Labs is launching a fund focused on African #blockchain startups, the investor announced Monday at the Blockchain Hub adjacent to the World Economic Forum in @Davos, Switzerland.

2022-5-24 12:40


How Blockchain Technology Can Play a Role in Preserving Natural Capital

Blockchain and crypto are changing major industries around the world. From banking to supply chains, it revolutionizes several aspects across businesses and industries of all sizes. The crypto market which was only worth $1 billion almost a decade ago, has now exploded into a massive $2 trillion industry and what originated with the Bitcoin blockchain, has evolved into a full-fledged crypto ecosystem with over 18000 different projects.

2022-4-27 12:46


Фото:

Bitop Aims to Create A New Era of Artificial Intelligence in Crypto Trading

The business world has seen some shake-ups in the last few years, especially with the boom of cryptocurrency and blockchain, the technology behind it. The expansion of the blockchain and crypto industry has seen many innovative and exciting projects pop up that are on track to push the industry even further and offer amazing products […]

2021-9-22 18:14


AmaZix partners with Estonian crypto incorporation firm Consulting24

Full-stack blockchain technology consultancy firm AmaZix, has announced its latest partnership with Estonia-based crypto incorporation specialists Consulting24. Together, they intend to simplify setup processes for multiple types of crypto businesses, helping global players gain easy access to the emergent financial domain of blockchain and crypto.

2019-12-16 17:00


Фото:

Next Block Guru Awards: EXW Wallet Nominated for “Best Crypto Payment Service Award”

Krypton Events have made a name for themselves in the crypto industry by holding numerous successful events to bring together the blockchain, crypto and fintech enthusiasts, experts and businesses. This year alone, they’ve hosted 6 conferences in total, bringing together top blockchain executives and businesses and top-tier investors and industry visionaries from around the world.

2019-11-23 12:43


Фото:

Untamed Crypto Could Be the Wonder Drug for Open Source Development

Many in the crypto industry, whether it be financeers or computer science majors, have yet to crack the code of blockchain’s killer app. Will it be tokenized real estate, dismantling large Internet companies, or something in between? At this year’s WeAreDevelopers conference in Berlin, Germany, one of the major themes was how to encourage openRead MoreRead More.

2019-6-7 10:30