Visa has stated it will not process any cryptocurrency-based transactions, due to the asset’s speculative and volatile nature.<\/p>\n
The company will only process fiat currency-based transactions, said Visa CEO Alfred Kelly in an\u00a0interview with CNBC<\/strong><\/a>.<\/p>\n “My take is that Bitcoin is much more today a commodity that somebody could invest in – and honestly, somewhat of a speculative commodity,” said Kelly.<\/p>\n Due to the price fluctuations of cryptocurrency in relation to fiat currency, Kelly said Bitcoin and Ethereum do not qualify as a payment system player.<\/p>\n The volatility of cryptocurrency makes it difficult to serve as a medium of exchange, but blockchain developers are attempting to solve this problem through the use of “stablecoins”.<\/p>\n These cryptocurrencies are backed by collateral and are tethered to price of fiat currencies like the US dollar.<\/p>\n Visa has stated it will not process any cryptocurrency-based transactions.<\/p>\n","protected":false},"author":23,"featured_media":190350,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[21199,191,30278,27208,899],"class_list":["post-245568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-cnbc","tag-cryptocurrency","tag-payment-system","tag-transactions","tag-visa"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/245568"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=245568"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/245568\/revisions"}],"predecessor-version":[{"id":245588,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/245568\/revisions\/245588"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/190350"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=245568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=245568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=245568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Now read:\u00a0Ethereum will match Visa in scale \u2013 Founder<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"