Visa CEO Al Kelly: I'm Smart Enough To Make Sure Our Company Is In Crypto

Al Kelly isn’t sure what the future holds for cryptocurrency, but said the smart thing to do is to be involved anyway.

What Happened: In a recent “Leadership Next” podcast, the Visa Inc V CEO told Fortune’s Alan Murray he was set on making sure the payments company is “in the middle” of crypto developments today.

“What I like most about our business, Alan, is that we don’t pick winners and losers. You know, as you and I sit here and talk today, I don’t know how far the cryptocurrencies are going to take off. Let’s say in five years it was a fad and no big deal? Or will it be extremely popular? I’m not smart enough to know, but what I’m smart enough to do is make sure our company is in the middle of it today,” he said.

Visa is now more focused on the movement of cash rather than just payments in general, Kelly said. 

“If it takes off and we get our fair share or more of the volume, because we anticipate that it could possibly take off and become a big business, we certainly want to be prepared for that, and I think we’ve got off to a great start.”

Last month, Visa made its first big move in the NFT space, acquiring a unique CryptoPunk for $150,000 in Ethereum ETH/USD.

The payments giant also partnered with crypto lending platform BlockFi to release a crypto rewards card for U.S. clients who signed up for one in December 2020.

“Crypto rewards programs are a compelling way to engage consumers in the crypto economy,” said Terry Angelos, SVP and global head of fintech at Visa. 

Price Action: At press time, Bitcoin BTC/USD was trading at a price of $44,746.56. Visa shares closed 1.13% lower on Friday at a price of $224.91.

Photo: CardMapr on Unsplash.