Visa continues its bullish outlook on CBDCs and stablecoins with its outgoing CEO confirming its working on several solutions to support their adoption.
The chief executive of credit card giant Visa remains confident that blockchain-powered solutions can be integrated into its services and offerings to power the next generation of payments.at Visa’s annual stockholder meeting on Jan. 24, outgoing CEO Al Kelly — who will officially step down on Feb. 1 — briefly shared the firm’s plans for Central Bank Digital Currencies and private stablecoins.
“We’ve had an immaterial amount of investments in crypto funds and companies as we seek to invest in the payments ecosystem,” the outgoing CEO explained. Kelly also confirmed that Visa’s balance sheet hasn’t been impacted by some of the “high-profile failures” that rocked the cryptocurrency space in 2022:
“We’ve had no credit losses related to these failures [...] In everything we do, please know that we’re extremely focused on maintaining the integrity of Visa’s payment system and the payment system in totality and of course, the reputation of our brand standing for trust.”in September 2021, named the Universal Payment Channel initiative, the project was designed to establish a “network of networks” for CBDCs and private stablecoins to pass through various payment channels.
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