Visa crypto executive: Not worried about stablecoins threatening traditional payment companies

PANews reported on July 27 that according to BusinessInsider, Cuy Sheffield, head of Visa's crypto business, said he is not worried about the rise of stablecoins potentially threatening traditional payment companies. Even though stablecoins provide consumers with a new payment method that does not require credit cards, this payment giant views the emergence of stablecoins as an opportunity. Cuy Sheffield pointed out that stablecoins do not solve many problems in retail payments, as data shows that most stablecoin transaction volumes come from high-value transfers rather than retail transactions. He added that the opportunities for stablecoins are primarily in economies outside the United States, centered on emerging markets, where there is a demand for US dollars but limited channels to obtain them.