Visa's head of cryptocurrency business: The rise of stablecoins is an opportunity, not a threat

According to Foresight News, Cuy Sheffield, head of Visa's cryptocurrency business, is not concerned that the rise of stablecoins could pose a risk to traditional payment companies. Even though stablecoins provide consumers with a new payment method that does not require credit cards, the payment giant views the emergence of stablecoins as an opportunity. 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 that have a demand for US dollars but limited channels to obtain them.