Alfred Kelly, CEO of Visa, a global payments giant, recently revealed that the company is proactively working towards digital assets. The CEO briefed the media that the firm is currently working on a number of central bank digital currencies (CBDCs) and stablecoin initiatives.
On Tuesday, the company was holding its annual meeting where Kelly also said that Visa is looking forward to expanding its role in the cryptocurrency sector. However, he added that it would do so while maintaining its brand reputation and integrity.
In addition, he mentioned that the company had no credit losses to the recent crypto contagion as it had an immaterial investment in crypto companies.
Kelly also said that the company believes that stablecoins and CBDCs could play a meaningful role in the payment space. That is why it is incessantly working on several initiatives to develop its CBDC and stablecoin infrastructure.
Visa has been highly progressive in digital assets in recent times. In October last year, the company disclosed that it had partnered with over 70 crypto platforms allowing its customers to spend their cryptocurrency across 80 million merchants globally.
Todayq News reported that a USPTO-licensed trademark lawyer named Mike Kondoudis claimed in a tweet that Visa had submitted two trademark applications claiming plans for controlling digital, virtual, and cryptocurrency transactions and more.
In November, the company announced the release of a brand-new non-fungible token (NFT) collection called “Visa Masters of Movement,” which was intended to excite football fans during the FIFA World Cup in Qatar. The firm described the NFT collection as a unique blended experience.
The payment giant currently also allows users to buy cryptocurrencies and NFTs using their Visa cards. Additionally, it enables users to convert their cryptocurrencies and stablecoins into fiat.
Not just that, according to Visa, cryptocurrency users may someday be able to automatically pay their phone and utility bills using their self-custodial crypto wallets.
Visa’s thought leadership team on cryptocurrencies put forth a solution in a blog post on December 20 that would let providers automatically “pull” money from customers’ Ethereum-powered crypto wallets without requiring the user to approve each transaction personally.