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The head of cryptocurrency at Visa says that CBDCs are the biggest trend in payments

July 6, 2020

The head of the cryptocurrency at Visa claims this The central bank’s digital currencies (CBDC) could be one of the major trends in the next decade.

Cuy Sheffield, who oversees credit card giant Visa’s crypto projects, tweeted that “how governments evaluate CBDCs The path chosen will have important implications for privacy, monetary sovereignty, geopolitics and financial inclusion, as well as the global rollout of cryptocurrencies and Bitcoin.“” Said::

“I would say that The central bank’s digital currency (CBDC) is one of the key trends for the future of money and payments in the next decade. Regardless of a person’s personal opinion of whether he is good or bad, the global interest in it will not actually disappear. “

Sheffield was a long-standing defender of the CBDC. In May, Sheffield said central banks are not interested in digital currency solutions for consumers. Visa was not shy in its interest in digital currencies. The enterprise A patent application for digital currencies was filed earlier this year.

The head of cryptocurrency at Visa says that CBDCs are the biggest trend in paymentsThe head of cryptocurrency at Visa says that CBDCs are the biggest trend in payments

Central banks have experimented with the idea of ​​offering digital currencies. The Bank of Japan announced it would test the profitability of a digital yen to see if it could offer universal access and resistance to those wishing to use the virtual currency. Japan is just one of the countries looking for digital currencies. China may release a digital yuan soon, although the date is not yet known.

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