Institutional collapse has being actively seen during this current crypto winter, with the collapse of three arrows which the collapse of FTX exchange which is still fresh in our memories has really seen the crypto confidence lost within these big players. Institutional investors are perplexed in taking the crypto investment route, in a session with the payment giant Visa CEO which he says that crypto regulations needs to come in to regain crypto users confidence.
In he’s words he continued in saying;
“I hope one good thing that comes out of this FTX disaster for their investors and their employees, is that we see an acceleration towards regulation and leaning into good, stablecoin regulation. Because I think that that is what’s necessary to build back confidence for people. And we’ll see over time.”
He gave an insight on what the firm has being up to of recent which he says that they plan of offering service that will enable users and business owners to make user of credit cards to make crypto transactions.
“We are setting up for the reality of crypto potentially having a role in payments and money movement. You know, we don’t pick winners or losers. We ultimately let the consumer and the experience decide. But we’re creating on and off-ramps for crypto players, putting Visa cards in wallets, being able to convert the stablecoin to a fiat currency, and being able to use their Visa card to shop anywhere they want to shop. We’re even working on being able to settle with a merchant at the end of the day who wants to get settled in a stablecoin versus settled in a currency.”
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