Visa's CEO reflected on the advantages of stablecoins and the significance of legislative initiatives for the payment industry.
Regulation and Innovation
Visa's chief, McInerney, stated in an interview on CNBC that new legislation regarding stablecoins provides much-needed clarity that will help unlock new innovation across the payments industry.
Collaboration with Stablecoin Issuers
McInerney emphasized that Visa has been embracing stablecoins for a long time and has developed solutions using this infrastructure. He also confirmed that Visa would continue its partnership with Circle, the issuer of USDC, as it integrates regulated stablecoin payments into its infrastructure.
Stablecoin Promise in Emerging Markets
McInerney believes that the real transformative potential of stablecoins lies in emerging markets, where currency shortages and high inflation necessitate new financial solutions. He pointed out that these payments can offer financial inclusion and global accessibility.
Thus, Visa demonstrates a commitment to leveraging the opportunities presented by stablecoins to enhance financial accessibility and strengthen its global influence.
