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/businessIt is obvious that the person fills to himself the price. Today, he claims all over the country that he will not have any dealings with cryptocurrency and that visa transactions will never process, thereby instilling competitors a false view of the situation with the crypt. And as soon as the stability of the Fiat currency is shaken, the visa will be the first to start withdrawing the crypt into real money at ATMs. It's a matter of time and I think very close.