Share this article
Visa CEO Still Uncertain on Crypto’s Role
Al Kelly questions the utility of cryptocurrencies even as the payments giant gets involved in the sector.
Updated May 11, 2023, 5:55 p.m. Published Mar 8, 2022, 7:26 p.m.
Payments giant Visa (V) intends to continue to build out its crypto platform even as CEO Al Kelly questions the ultimate utility of the sector.
- “What problem are we trying to solve?” said Kelly, adding his voice to the oft-heard criticism of crypto as a solution in search of a problem. He spoke during Royal Bank of Canada's global financial institutions conference Tuesday afternoon.
- While cryptocurrencies may be quite useful in emerging markets where cash can be “dangerous,” Kelly said, he’s unsure of their role in nations like the U.S. and Canada.
- Nevertheless, he added, Visa will continue to play a role in the industry and ultimately leave it to its customers to decide whether crypto makes sense for them. In the fourth quarter last year, Visa users made $2.5 billion in payments with crypto-connected cards, up sharply from previous quarters.
- In addition to payments, Kelly said that Visa is facilitating purchases of cryptocurrencies, creating a utility for crypto via stablecoin providers and enabling financial institutions and fintechs to offer crypto access and custody.
Read more: Visa Launches Crypto Advisory Services for Banks as Demand for Digital Assets Grows
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
UPDATE (Mar. 9, 13:32 UTC): Includes reference to conference in which Visa's CEO spoke at.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Robinhood leaning into advanced traders as crypto volatility reshapes user behavior
The trading platform is increasingly catering to advanced crypto traders with tools tailored to active, tax-aware users, its head of crypto said.
What to know:
- Robinhood is increasingly targeting advanced crypto traders with new features like tax-lot selection and deeper liquidity access.
- The platform, once known for attracting beginners, is seeing more experienced users shift from rivals like Coinbase.
Top Stories
