{"id":543228,"date":"2023-01-25T05:34:02","date_gmt":"2023-01-25T02:34:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/stablecoins-and-cbdcs-might-play-meaningful-role-in-payments-visa-ceo\/"},"modified":"2023-01-25T05:34:02","modified_gmt":"2023-01-25T02:34:02","slug":"stablecoins-and-cbdcs-might-play-meaningful-role-in-payments-visa-ceo","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/stablecoins-and-cbdcs-might-play-meaningful-role-in-payments-visa-ceo\/","title":{"rendered":"# Stablecoins and CBDCs might play &#8216;meaningful role&#8217; in payments \u2014 Visa CEO"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a228c070c304\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a228c070c304\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/stablecoins-and-cbdcs-might-play-meaningful-role-in-payments-visa-ceo\/#%E2%80%9D_Stablecoins_and_CBDCs_might_play_%E2%80%98meaningful_role_in_payments_%E2%80%94_Visa_CEO_%E2%80%9C\" >&#8221; Stablecoins and CBDCs might play &#8216;meaningful role&#8217; in payments \u2014 Visa CEO &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Stablecoins_and_CBDCs_might_play_%E2%80%98meaningful_role_in_payments_%E2%80%94_Visa_CEO_%E2%80%9C\"><\/span>&#8221; Stablecoins and CBDCs might play &#8216;meaningful role&#8217; in payments \u2014 Visa CEO &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5a4050f8>The chief executive of credit card giant Visa remains confident that blockchain-powered solutions can be integrated into its services and offerings to power the next generation of payments.<\/p>\n<p>Speaking on a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/annualreport.visa.com\/annual-meeting\/default.aspx\">call<\/a> at Visa\u2019s annual stockholder meeting on Jan. 24, outgoing CEO Al Kelly \u2014 who will officially step down on Feb. 1 \u2014 briefly shared the firm\u2019s plans for Central Bank Digital Currencies (CBDCs) and private stablecoins.<\/p>\n<p>According to a Jan. 24 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bizjournals.com\/sanfrancisco\/news\/2023\/01\/24\/visa-crypto-bitcoin-ceo-al-kelly-annual-meeting.html?utm_source=sy&amp;utm_medium=nsyp&amp;utm_campaign=yh\">report<\/a> from San Francisco Business Times, Kelly said:<\/p>\n<blockquote><p>\u201cIt\u2019s very early days, but we continue to believe that stablecoins and Central Bank Digital Currencies have the potential to play a meaningful role in the payments space, and we have a number of initiatives underway.\u201d<\/p><\/blockquote>\n<p>\u201cWe\u2019ve had an immaterial amount of investments in crypto funds and companies as we seek to invest in the payments ecosystem,\u201d the outgoing CEO explained.<\/p>\n<p>Kelly also confirmed that Visa\u2019s balance sheet hasn\u2019t been impacted by some of the \u201chigh-profile failures\u201d that rocked the cryptocurrency space in 2022:<\/p>\n<blockquote><p>\u201cWe\u2019ve had no credit losses related to these failures [&#8230;] In everything we do, please know that we\u2019re extremely focused on maintaining the integrity of Visa\u2019s payment system and the payment system in totality and of course, the reputation of our brand standing for trust.\u201d<\/p><\/blockquote>\n<p>Over the years, Visa has worked on a number of crypto-related initiatives.<\/p>\n<p>Its research team began working on a blockchain interoperability project in September 2021, named the Universal Payment Channel (UPC) initiative, the project was designed to establish a \u201cnetwork of networks\u201d for CBDCs and private stablecoins to pass through various payment channels.<\/p>\n<p>Visa hasn\u2019t provided an update on the UPC in over 12 months,\u00a0however. <\/p>\n<p>More recently, the payment giant announced on Dec. 20, 2022, that it was chalking up a plan to allow automated bills to be paid out from a user\u2019s Ethereum-powered wallet.<\/p>\n<p>Visa has also rolled out several \u201czero fee\u201d cryptocurrency debit cards of late including a now-terminated agreement with FTX and a partnership with Blockchain.com on Oct. 26, 2022, which is still in effect.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/c2fce5fa-34be-4457-9a34-390f44f0550d.jpg\"><figcaption style=\"text-align: center;\"><em>A sample Visa-FTX debit card before Visa ultimately terminated the partnership agreement. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/news\/ftx-launch-visa-powered-debit-151054912.html\"><em>Yahoo Finance.<\/em><\/a><\/figcaption><\/figure>\n<p>While Visa\u2019s 2022 annual <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/s29.q4cdn.com\/385744025\/files\/doc_downloads\/2022\/Visa-Inc-Fiscal-2022-Annual-Report.pdf\">report<\/a> only included data up until Sept. 30 \u2014 about five weeks before FTX collapsed \u2014 more information may be revealed in Visa\u2019s Q1 2023 earnings <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/investor.visa.com\/events-calendar\/Event-Details\/2023\/Q1-2022-Visa-Inc-Earnings-Conference-Call\/default.aspx\">call<\/a> on Jan. 26.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin Lightning Network vs Visa and Mastercard: How do they stack up? <\/em><\/strong><\/p>\n<p>Visa President Ryan McInerney will officially replace Al Kelly as CEO on Feb. 1, while Kelly will remain on board as executive chairman.<\/p>\n<p>McInerney <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be equally, if not more bullish on blockchain-powered payment solutions too.<\/p>\n<p>In an <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/fortune.com\/2022\/11\/18\/visa-ceo-kelly-mcinerney-ftx-crypto-future-payments\/\">interview<\/a> with Fortune in November 2022, McInerney said Visa still has \u201c$14 trillion of cash out there being spent by consumers that can be digitized\u201d and that they\u2019re continuing to explore where crypto payments may be best leveraged.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/stablecoins-and-cbdcs-might-play-meaningful-role-in-payments-visa-ceo\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Stablecoins and CBDCs might play &#8216;meaningful role&#8217; in payments \u2014 Visa CEO &#8220; The chief executive of credit card giant Visa remains confident that blockchain-powered solutions can be integrated into its services and offerings to power the next generation of payments. Speaking on a call at Visa\u2019s annual stockholder meeting on Jan. 24, outgoing&#8230;<\/p>\n","protected":false},"author":1,"featured_media":543229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/30d39484-f793-45e5-8e28-4af15350b981.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75046,75022,82560,74889,75493,77456,74355,117],"class_list":["post-543228","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cbdc","tag-central-bank","tag-mobile-payments","tag-payments","tag-stablecoin","tag-visa","tag-adoption","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/543228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=543228"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/543228\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/543229"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=543228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=543228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=543228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}