KANALCOIN NEWS – Digital payments giant, Visa, is reportedly starting to widen their line of business. The reason is, Visa plans to open cryptocurrency trading services in all of its networks spread throughout the world.
Visa expressly expresses its desire to take part in the cryptocurrency business. This was conveyed by the CEO of Visa, Alfred Kelly, directly. Kelly said that Visa plans to open a cryptocurrency trading service into his company.
This was done by Visa on the grounds of the increasing level of public interest in cryptocurrencies. In addition, Kelly considers that Visa has a responsibility to participate in ensuring the security of cryptocurrencies.
Thus, Visa, which has a global network, will be able to make people feel more secure when conducting transactions through cryptocurrencies. In fact, Kelly through Visa plans to make the cryptocurrency more useful and applicable for payments.
To realize the plan, Kelly said that Visa will divide the crypto market within the company into two segments. The first segment will be used to trade cryptocurrencies under the name digital gold segment. While the second segment is the digital currency segment.
Reported by Kanalcoin.com from News.Bitcoin.com, Kelly said that the first segment, known as the digital gold segment, will focus on cryptocurrencies that are intended as digital investment assets.
Thus, customers will be able to buy the crypto currency used as an investment through Visa. In addition, customers can also cash it through Visa in exchange for fiat currency in one of the 70 million networks worldwide.
“Our strategy here is to work with wallets and exchanges to allow users to buy this currency using their Visa credentials or to cash in to Visa credentials to make fiat purchases at any of the 70 million merchants where Visa is accepted globally,” Kelly said.
In the second segment, Visa will trade digital currencies focusing on stablecoins and digital currencies from each central bank. Later, the digital currency will be able to be used as a payment innovation like fiat currency, but in digital form.
In fact, Visa plans to use the digital currency they trade as a means of payment globally around the world someday.
Meanwhile, Kelly said that currently there are several digital currency platforms and leading wallet providers have issued Visa cards, although the plan has just been put forward.
Some of the leading digital currency platforms and wallet providers include crypto.com, Blockfi, Fold, and Bitpanda. Kelly also claims that the collaboration with several wallet providers is proof of the potential for more than 50 million Visa credentials.