Visa will continue to contribute to crypto ecosystem, Visa chief crypto explains why

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Yuri molchan

Visa’s Cuy Sheffield revealed why Visa intends to continue supporting the crypto ecosystem

In a recent interview with New Delhi TV (NDTV), Visa chief crypto Cuy Sheffield said the global payments giant will continue to support the global ecosystem after launching the Global Crypto Advisory service earlier this month. -this.

“Crypto is a cool asset”: Visa product manager

Visa’s Cuy Sheffield previously called the cryptocurrency a “cool” asset. He explained this to an NDTV reporter, saying digital currencies are now attracting more financial companies than before. About 40% of those who own cryptocurrency are willing to leave mainstream banks and start using those that offer products based on digital currencies.

Sheffield also pointed out that the crypto sphere has grown significantly in recent years, moving from simple investing and payments to discovering new pieces of music and art. He believes that when mobile crypto-related apps are firmly integrated into the daily lives of consumers, they certainly have the potential to become “super apps”.

Visa closely follows the NFT sphere

According to Sheffield, Visa is closely following the NFT sphere right now as it has become a rapidly developing and growing trend with more and more users joining this frenzy.

He believes that small and medium-sized businesses (SMEs) have the potential to benefit from non-fungible tokens as well in a way that has never been used before. NFTs allow businesses to produce and sell digital goods at a low initial cost, and these goods can be sent instantly to users’ digital wallets.

Visa’s crypto chief believes that in the future, a user’s crypto address and email address will have similar value and importance.

In addition, Visa recently purchased $ 150,000 from NFT. The company believes that non-fungible tokens will begin to play a major role in the retail industry, social media, commerce and the entertainment sphere.

Number of Visa employees working with crypto reaches hundreds

Visa’s scale of work in the crypto industry has accelerated dramatically in recent times. The number of employees working on crypto in one way or another has now grown to several hundred, up from a handful recently.

Additionally, the number of partnerships the payment processing giant has forged with crypto companies recently hit 60.

Visa wants to better understand crypto, as well as the attitude of its customers towards this nascent but maturing industry. Many Visa customers believe crypto will be part of the future transformation of the monetary system.

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