The Chief Executive Officer of payment giant company; VISA, Al Kelly in a conversation with Alan Murray, the Chief Executive Officer of Fortune on the podcast “Leadership Next” has stated that cryptocurrencies might become “extremely mainstream” in a matter of five years to this time.
CEO Kelly did not put all his bet on cryptocurrencies becoming mainstream as he was on both sides and stated that even though cryptocurrencies become a fad, his primary concern is that VISA is moving with the tide and “in the middle of it”;
“The thing about our business that I actually like, Alan, is that we don’t pick winners and losers. You know as you sit here and talk today, I don’t know to what degree cryptocurrencies are going to take off. Are we gonna say in five years that it was a fad and wasn’t a big deal? Or is it gonna be extremely mainstream? I’m not smart enough to know, but what I’m smart enough to do is make sure that our company is in the middle of it today.”
The Chief executive of the global payment company went on to state that the company is focusing on movements of money other than payments only and that’s why they’ve gotten involved with cryptocurrencies early in case it becomes a big deal in the nearest future;
“If it takes off and we can get our fair share or more of the volume because we anticipate that possibly could take off and become a big deal, we certainly wanna be prepared for that, and I think we are off to a very good start.”
Bitcoin; Digital Successor of Gold
Kelly further categorizes cryptocurrencies into two. He referred to Bitcoin as the digital successor of gold and included that plans to enable seamless conversion and purchase of the digital asset is being set in motion by the payment company;
“In that category, we are trying to do two things: enable the purchase of Bitcoin on VISA credentials. And, secondly, working with some Bitcoin wallets to allow Bitcoin to be translated into a fiat currency.”
The second category Kelly mentioned was stablecoins and stated it could become a strong payment network.