Visa’s Head of Crypto Says the Payments Giant Isn’t Worried About Stablecoins
The GENIUS Act became law this month, and with it came a wave of bullish prognostications about stablecoins.
But for traditional payments companies, the landmark legislation was being eyed as a threat. That’s because the law would allow more issuers to mint their own stablecoins. In June, The Wall Street Journal reported that Amazon and Walmart were considering issuing stablecoins. Market experts say such a move could allow companies to bypass credit card transaction fees by having customers use their native stablecoins.
But Cuy Sheffield, the head of crypto at Visa, told Business Insider that the payments giant sees the rise of stablecoins as an opportunity.
Sheffield made it clear that Visa isn’t worried…
