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Visa CEO: Stablecoins and CBDCs will be Integral for Payments

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Visa CEO: Stablecoins And CBDCs Will Be Integral For Payments

Visa, the world’s leading digital payment network, announced recently that their CEO Al Kelly believes that both stablecoins and central bank-issued digital currencies (CBDCs) will become integral for payments in the near future. Kelly made this statement during his recent interview with CNBC.

Kelly told CNBC that Visa, a payment network that processes over $10 trillion annually, is actively looking into both stablecoins and CBDCs. He said: “We’re very focused on that, and looking at the potential there, we’ve said that this is something that we want to be able to do. We want to be able to enable those types of payments.”

The company, which is the world’s largest payment network, has already partnered with a few different cryptocurrency companies. As Kelly mentioned, the company is now looking to expand its partnership with cryptocurrency firms, as well as other blockchain-related companies.

Kelly also noted that Visa is also looking into the potential of CBDCs. He said: “We’re looking at CBDCs…We’ve been engaged with central banks around the world to try to understand what their needs and aspirations are.”

The Visa CEO believes that both stablecoins and CBDCs will be integral for payments in the near future. He is also confident that Visa will be able to enable these types of payments in the near future. Kelly concluded the interview by saying: “We think both of them (stablecoins and CBDCs) have potential, and we’re going to be able to be in the middle of it.”

Visa is looking to the future and is actively exploring the potential of both stablecoins and CBDCs.

#Visa #Payments #Stablecoins #CBDCs

The post Visa CEO: Stablecoins and CBDCs will be Integral for Payments first appeared on Byte Syze Crypto.

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Justin Sun Predicts Huobi Crypto Exchange to Secure Hong Kong License in Under a Year

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Tron founder and advisor to the exchange, Justin Sun, has stated that Huobi could get a Hong Kong crypto license in six to twelve months. Specifically, Sun told Coindesk that the exchange applied to become a virtual asset service provider (VASP) last week. Additionally, Sun discussed the process of the VASP application and his belief that the crypto exchange could have an answer by the end of the year. Huobi had recently relocated to Hong Kong, aiming to launch Huobi Hong Kong by the summer. Sun was asked about embracing potential competition in the Canadian market and noted the strict regulatory standards in the country, referring to the Caribbean, Hong Kong, and Japan. There has been no verification of other cryptocurrency exchanges that have applied for a similar license, however, Coindesk reported Sun’s expectation that five to six other exchanges could make the move.

This news is good for Huobi as they are in the process of obtaining a crypto license in Hong Kong, which would allow them to operate in the region and serve customers. Other exchanges may also apply for the license, and the grace period given to the exchange could provide them with the opportunity to get approval in the next six to twelve months.

#Huobi #HongKong #CryptoLicense #VASP #JustinSun

You can read more about this topic here: Watcher Guru: Justin Sun Says Huobi Could Get Hong Kong Crypto License in 6-12 Months

The post Justin Sun Predicts Huobi Crypto Exchange to Secure Hong Kong License in Under a Year first appeared on Byte Syze Crypto.

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Crypto Rug Pulls: How $45 Million In Defi Attacks Were Lost In May

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#CryptoSafety #RugPulls #DefiExploits #ProtectInvestors

You can read more about this topic here: Watcher Guru: Crypto Rug Pulls Outvalued Defi Attacks in May, $45 Million Lost

The post Crypto Rug Pulls: How $45 Million In Defi Attacks Were Lost In May first appeared on Byte Syze Crypto.

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CFTC Set to Revamp Risk Regulations: How it Impacts the Crypto Industry

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The Commodity Futures Trading Commission (CFTC) has proposed a re-modelled rule-set for risk management as part of its effort to respond to the U.S. banking crisis. Commissioner Christy Goldsmith Romero highlighted the need for such regulations due to the risks posed by the emergence of technologies like crypto, AI, and cloud services. The CFTC’s advance notice of proposed rulemaking will be open for public comments for 60 days. The final version will then be voted upon. #CFTC #RiskManagement #Crypto #Regulations

You can read more about this topic here: Watcher Guru: Crypto: U.S. CFTC Looking to Change Risk Rules

The post CFTC Set to Revamp Risk Regulations: How it Impacts the Crypto Industry first appeared on Byte Syze Crypto.

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