Visa’s Head of Crypto: The Rise of Stablecoins Is an Opportunity, Not a Threat

According to a report by Jinse Finance, Cuy Sheffield, Head of Crypto at Visa, stated that he is not concerned about the rise of stablecoins posing a risk to traditional payment companies. Even though stablecoins offer consumers a new payment method that does not require credit cards, the payments giant views the emergence of stablecoins as an opportunity. Cuy Sheffield pointed out that stablecoins do not solve many issues in retail payments, as data shows that the majority of stablecoin transaction volume comes from high-value transfers rather than retail transactions. He added that the main opportunities for stablecoins lie in economies outside the United States, particularly those centered on emerging markets, where there is demand for the US dollar but limited access to it.