Visa predicted the "significant" role of stablecoins and CBDC in payments

Visa CEO Alfred Kelly confirmed the integration of blockchain into Visa payments, stating that stablecoins and CBDC can a big part of the payment system.

Visa, blockchain technology, stablecoin, CBDC

Written by

Edna Buckley
Published on

January 25, 2023

Visa CEO Alfred Kelly expressed confidence that blockchain-based solutions will be integrated into the company's services to support next-generation payments.

According to the San Francisco Business Times, during the annual shareholder meeting, he stated:

This is an early stage, but we continue to believe that stablecoins and CBDCs can play a significant role in payments. And we have a number of initiatives.

According to him, “loud upheavals” in the crypto industry throughout 2022 did not affect financial performance.

We didn’t have any credit losses associated with these disruptions […] Everything we do is extremely focused on maintaining the integrity of the Visa payment system, the sector as a whole, and of course our reputation as a trusted brand,

The annual report submitted by the company is compiled as of September 30, 2022. It does not reflect the consequences of Visa's cooperation with the FTX crypto exchange, the collapse of which was one of the most significant events for the crypto industry over the past year.

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