Visa CEO Al Kelly made it clear the corporate view regarding adoption of cryptocurrencies by this payment provider. Kelly states that Visa will be ready to go crypto if cryptocurrencies moves from being as commodities to the payment instrument. This statement is very important since Visa CEO recognized legitimacy of cryptocurrencies considered as commodities. It implies that this corporation doesn’t mind in principle any crypto futures trading and purchase and sell of cryptocurrencies by bank cards using fiat – of course, it’s a just a logic conclusion derived from the CEO Visa since he apparently called cryptocurrencies “commodities.”
Anyway he confirmed that cryptocurrencies didn’t possess any risk for Visa activities and there is no threat in cryptocurrencies “at all”, at least if one speaks about short term period. Meanwhile analyst Joseph Young said back that “Visa CEO says it will support crypto if it becomes large enough for them to feel comfortable because it wants to be in the “middle” of every payment. When crypto becomes large enough, it won’t need middlemen. The time to consider supporting crypto is now, not 10 years later.”
Another analyst, UK based Phillip Nunn, believes that 2020 year will be a year of crypto adoption by Visa and MasterCard. It’s worth to mention also that Visa and its vise-a-vis MasterCard feel themselves deeply involved into distributed ledger technologies. As Edward Garrett, CCO for Blue Protocol and head of blockchain recruitment for EC1 Partners states, “Visa Engineers have already been leaving and setting up their own blockchain solutions after Visa internally showed absolutely no interest in blockchain technology.” MasterCard has registered a number of crypto and blockchain related patents.