The head of Visa: «Cryptovaly does not pose a threat to us, and we will start working with it when it becomes mainstream»

Visa General Director Alfred Kelly said that in the near future, cryptocurrency does not threaten the leading positions of the payment system, and the company will start working with it as soon as this direction becomes mainstream.

According to him, in the short and medium term, virtual currencies, as a class of funds, do not pose a threat to FIATA, which is the basis for Visa products. In order for cryptocurrencies to compete with the traditional financial system, they need to get rid of the status of goods and retrain the payment instruments.

Alfred Kelly says that a virtual currency requires some kind of market so that they approach the fiat. The company strives to be in the center of any payment flow of the world, regardless of how it happens, and what means are used. Therefore, when the cryptocurrency becomes mainstream, Visa will start working in this direction.

The fact that MasterCard has recently actively explores the blockchain and recently received a patent for a fractional reserve bank for cryptocurrency, Alfred Kelly replied that they are so crooked, simply because less. However, earlier, both companies reported their plans to assign cryptocurrency and ICO to the category of high risk.

Despite Ignoring cryptocurrency, Visa highly appreciated the blockchain technology. Recently, payment giant said that the first quarter of 2019