Speaking at the 48th annual virtual conference of JP Morgan on May 14, Visa president and CEO Alfred Kelly revealed his position on cryptocurrencies.
Alfred Kelly: cryptocurrency it’s something other than digital currency
Kelly noted that it should be clearly distinguished kryptowaluty from digital currencies:
“First, it’s important to distinguish cryptocurrencies from digital currencies. Cryptocurrencies like Bitcoinare still more commodities. If we look at Bitcoin as for example many more people buy and hold it, (…) while digital currencies supported by fiat currency is a real emerging payment technology, which can be very interesting. “
He added that “Digital currencies can be an addition to the payment ecosystem”instead of replacing it. He emphasized that they could also be a really important element of the market in emerging economies.
“(…) every day we settle in 160 different currencies around the world and there is no reason why we could not accept digital currencies (…) if they are accepted as (…) real means of exchange for goods and services (…) “
Kelly also mentioned Libra.
“In Libra, we were intrigued (…) and we are still very intrigued. Now, however, we have finally decided not to join the Libra Association because we have not seen how within this structure regulatory requirements can be met (…) “
Visa, however, is apparently still in talks with Libra and does not rule out that he will be involved again in this project.
Posts CEO Visas coincided with reports according to which JP Morgan Chase, the largest bank in the US, began to provide banking services for the leading cryptocurrency exchanges – Coinbase and Gemini. Thus, both entities became the first companies from the cryptocurrency market that will have accounts in this bank. However, let us remind you that so far JP Morgan was a rather reluctant institution Bitcoinowi. His CEO, Jamie Dimon, even said that BTC this “scam“And people who buy coins are naive. He even threatened to dismiss any employee who he finds out that he buys BTC.