Visa CEO Alfred Kelly expressed confidence that blockchain-based solutions will be integrated into the company’s services to support next-generation payments.<\/p>\n
According to San Francisco Business Times<\/a>, during the company\u2019s annual meeting of shareholders he stated:<\/p>\n \u201cThis is early stage, but we continue to believe that stablecoins<\/a> and CBDC<\/a> can play a significant role in the payments space. And we have a number of initiatives.\u201d<\/p>\n<\/blockquote>\n According to him, the ‘high-profile upheavals’ in the crypto industry throughout 2022 did not affect the financial results.<\/p>\n \u201cWe did not have credit losses related to these outages \u2026 Everything we do is extremely focused on maintaining the integrity of the Visa payment system, the sector as a whole, and, of course, the reputation of our brand that has earned trust,\u201d \u2014 Mr. Kelly noted.<\/p>\n<\/blockquote>\n The company\u2019s annual report<\/a>, dated September 30, 2022, does not reflect the implications of Visa’s cooperation<\/a> with the crypto exchange FTX, collapse<\/a> which was one of the most significant events for the crypto industry in the past year.<\/p>\n In 2021, Visa presented the concept<\/a> of interaction between CBDCs and stablecoins in payment systems. The company also, as part of a pilot project, integrated settlements<\/a> in the ‘stablecoin’ USD Coin (USDC) from the Centre consortium.<\/p>\n In December 2022, Visa conducted a proof of concept<\/a> for automated recurring payments via Ethereum-layer-2 solution<\/a>StarkNet<\/a>.<\/p>\n\n
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