Visa head explains why Visa supporting crypto initiatives

Cuy Sheffield, Visa head, shared the stance of Visa company for their crypto inclined initiative of crypto advisory division. 

Increasing crypto adoption by the people are responsible for huge tension for those payment networks firms which are the king of the payment system. Because of the better transparency of blockchain-based transactions, people are moving toward crypto-based payment options. Due to increasing crypto-based payments options, Visa & MasterCard companies are aware of crypto and blockchain adoption, to sustain their similar position in the future global payment systems. 

In the latest, Cuy Sheffield, Visa head, appeared in an interview with NDTV, a local news media channel in India. Cuy said that they want to support the global ecosystem. 

Cuy said that Companies are getting attracted toward crypto more eagerly than before. And also around 40% of crypto users want to leave the regulator banking system and want to rely on crypto-based payments fully. 

Cuy also noted that the crypto industry greatly expanded over the last few years. From Investment & payment systems to exploring music and arts globally. He also said that if mobile apps will work together in the daily lives of people to bring the crypto network to a better level then surely we will have potentially superior apps.

On the NFTs trend, Visa head noted that the trend of the NFTs is still alive and more and more people are getting into it. And this is the reason why Visa company is tracking NFTs closely. 

The Visa head believes that small and big companies will take advantage of the NFTs use case easily. Companies can produce and sell digital products directly to users at low cost and high efficiency. 

On the increasing adoption, the visa head said that in the future crypto addresses and email addresses will play similar roles. He tried to say that it will become very common for people to use strange Crypto addresses just like email addresses.

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