The largest cryptocurrency, bitcoin, is a commodity and not a payment system, according to Visas chief executive. Visa will also not give bitcoin or other cryptocurrencies a platform for wire transfers and exchanges. I don't view it as payment system player, CEO Alfred Kelly told CNBC.
We at Visa won't process transactions that are cryptocurrency-based. We will only process fiat currency-based transactions, he added. Visa is the world's largest credit card company.
Bitcoin was originally created as an alternative de-centralized currency. However, with its 2,000 percent growth last year, it has become a source for speculators to make a quick buck. As bitcoin turnover grows, it faces problems like high fees, astoundingly slow transactions and volatile prices.
https://www.rt.com/businessI believe the C.E.O of Visa company according to the laws of the United state of America. Its a fact that they may not allow their company to process Bitcoin and other cryptocurrency transactions but that cannot stop cryptocurrencies from trending. There are other means implemented already and those yet to be implemented which would give people the platform to trade in cryptocurrencies