In a recent interview with New Delhi TV (NDTV), Visa’s head of crypto, Cuy Sheffield, stated that the global payments giant will continue to support the global ecosystem after they had launched the Global Crypto Advisory service earlier this month.
He explained this to an NDTV reporter, saying that digital currencies now attract more financial companies than before. Around 40% of those who own crypto are willing to leave regular banks and start using those that offer products based on digital currencies.
Sheffield also pointed out that the crypto sphere has greatly expanded in the past few years—from mere investing and payments to discovering new pieces of music and art.
He believes that when mobile apps dealing with crypto are firmly integrated into consumers’ daily lives, they certainly have the potential to become “super apps.”
According to Sheffield, Visa is closely tracking the NFT sphere at the moment, as it has become a fast-developing and growing trend with more and more users joining this frenzy.
He believes that small and medium businesses (SMBs) have the potential to benefit from non-fungible tokens as well as in ways that have not been used before. NFTs allow companies to produce and sell digital goods at low upfront costs, and these goods can be sent instantly to users’ digital wallets.
Visa’s head of crypto believes that, in the future, a user’s crypto address and an email address will be of similar value and importance.
Besides, recently Visa has purchased $150,000 worth of NFTs. The company believes that non-fungible tokens will start playing a major role in the retail industry, social media, commerce and the sphere of entertainment.
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