According to the Visa CEO, this entails “enabling consumers to purchase these currencies or bitcoin.” “We're working hard with wallets and exchanges to just make sure we're facilitating acceptance in people's ability to use their Visa cards to buy,” he added.
Kelly defined “enabling digital-currency cash-outs to fiat” as “converting a digital currency to a fiat on a Visa credential, which then makes those funds available for shopping at any one of the 70 million Visa merchants and gives the digital currency immediate utility.”
Visa's focus in the crypto space is on enabling financial institutions and fintech partners to offer a crypto option to their customers.
Kelly stated that Visa has "created APIs that enable financial institution customers to purchase, custody, or even trade digital currencies held by Anchorage, the first federally chartered digital asset bank in the United States."
Here’s another major priority “settlement,” according to the CEO: “We've upgraded our infrastructure to allow a financial institution to settle with these in a digital currency using stablecoin, beginning with USDC.” “The last area of opportunity in the cryptocurrency space is simply working with central banks,” Kelly concluded.