Payment giant Visa will help make cryptocurrency payments more secure and widespread through collaboration with industry. The announcement was made by Visa CEO Alfred Kelli during the company's first quarter financial conference call on Thursday, writes The Block.
According to Kelli, Visa will work with wallets and stock exchanges so that the company's customers can buy cryptographic assets, convert them into fiat currency and pay for their purchases with them.
The head of the company also explained how Visa currently handles digital assets. It divides them into two categories: bitcoin-like, which could be called 'digital gold', and those backed by fiat currencies, including stablecoin and central bank digital currencies. He called the latter "an evolving payment innovation that could potentially be used in commerce."
He also allowed Visa to add cryptocurrencies as a means of payment without converting them to fiat currency. "Some digital currencies are becoming accepted as a means of payment and there is no reason why we should not add them to our network, which currently supports more than 160 currencies," said Kelli.
