Visa CEO says crypto could become hugely popular in five years

[ad_1]

Although it is only a little over a decade old, Crypto has gained enormous popularity within a short period of time that it is common knowledge. Cryptos have collectively reached a valuation of over $ 2 trillion, beating big companies like Apple and Microsoft. Adoption has followed the same trend in recent years. The current number of people investing in crypto has put the number at just under 10% of the world invested in crypto.

Comparisons with the growth of breakthrough technologies like the internet have shown that crypto is heading for widespread adoption over the next five years. In view of this, payment companies like Visa, PayPal, and MasterCard have all developed crypto strategies to bring them to the forefront of this new payment method. The giants undoubtedly believe in the future of cryptocurrencies. By giving them reasons to develop their platforms to support these new currencies.

Related reading | Adoption of Bitcoin in El Salvador is the start of a new world, deVere CEO

Visa has taken strategic steps towards full crypto and blockchain support in recent years. According to Visas CEO Alfred Kelly, Visa makes sure that if cryptocurrencies get as big as everyone expects, then they want to be in the middle of it.

Crypto Could Be Mainstream In Five Years

CEO Alfred Kelly was on the Leadership Next podcast with Fortune CEO Alan Murray to talk about the future of cryptocurrencies. Kelly has expressed her thoughts on where cryptocurrencies might be over the next five years. According to the CEO, crypto could become extremely popular.

On the flip side, Kelly felt that just as crypto could be very effective, it could eventually collapse as well. Kelly explained that even though the crypto isn’t going anywhere, Visa wanted to be ahead. What I love most about our business, Alan, is that we don’t pick winners and losers, Kelly told Murray.

Related reading | Popular YouTuber MrBeast Reveals Significant Crypto Holdings, Here’s What He’s Got

Explaining what might happen with crypto over the next five years, I don’t know how far cryptocurrencies are going to take off, Kelly said. Let’s say five years from now it was a fad and no big deal or will it be hugely popular? I’m not smart enough to know it, but what I’m smart enough to do is make sure our business is in the middle of this today, Kelly added.

Visa wants to be ready

CEO Alfred Kelly said bitcoin is seen as the digital successor to gold. Thus, the company was striving to enable the purchase and conversion of cryptocurrencies. Visa plans to allow its customers to seamlessly convert their cryptocurrencies into fiat currency. With Kelly explaining that the company is also focusing on using crypto to move money and not just as payment.

Related Reading | By the Numbers: How Much Will Western Union and MoneyGram Lose From El Salvador’s Bitcoin Law

If it takes off and we get our fair share or more of the volume because we anticipate it could eventually take off and become a big company, we definitely want to prepare for it, and I think we’ve got a good start, said Kelly.

Visa has long implemented solutions to bring blockchain and crypto services to its customers. The payments giant is also claiming various partnerships with crypto companies that have seen them implement crypto debit cards for customers to spend their crypto. The company is also integrating blockchain solutions to enable faster and more efficient transactions on its platform.

Crypto’s Total Market Cap Maintains Position Above $ 2 Trillion | Total Crypto Market Cap on TradingView.com Featured Image from CryptoSlate, Chart from TradingView.com

[ad_2]