BREAKDOWN: Visa's CEO on Crypto – "This Is a Space We Are Leaning Into in a Very, Very Big Way"

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4.7 • 698 Ratings

🗓️ 28 April 2021

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

Visa’s earnings call makes it clear just how invested the company is in the crypto space. This episode is sponsored by Nexo.io and NEAR.org. Today on the Brief: Elon pumps Doge again Detailing Biden’s $1.8T American Families Plan Turkey, Iran, SEC Our main discussion looks at comments this week from Visa CEO Al Kelly on the company’s relationship with crypto, analyzing the five areas of opportunity Visa has identified: Helping customers buy BTC and crypto Enabling digital cash outs to fiat Enabling TradFi to offer crypto to customers Settlement via stablecoins Central bank digital currencies - Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io. - NEAR.org - Infrastructure for innovation. NEAR is an open-source platform that accelerates the development of decentralized applications overcoming high fees and slow speeds with its fast, scalable, low-cost, and climate-neutral blockchain protocol. One transaction on NEAR consumes about 1300x less carbon than a similar transaction on other chains. - Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) - Image credit: Simon Dawson/Bloomberg/Getty Images See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	What's happening is that more or less every central bank in the world is walking down the
0:04.6	CBDC path.
0:06.2	That means a total retrofitting of the financial piping.
0:09.5	This will be for a company like Visa, the single biggest and most important transition in
0:14.6	the company's life.
0:16.0	They either win and carve out their place in the new regime, or they'll be relegated to
0:20.5	the past.
0:22.6	Welcome back to The Breakdown with me, NLW.
0:26.7	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:32.9	The breakdown is sponsored by nexo.io and neared.org and produced and distributed by CoinDes.
0:40.2	What's going on, guys? It is Wednesday, April 28th, and today we are talking about recent comments from Visa's CEO on crypto.
0:49.4	But first, let's do the brief.
0:51.8	First up on the brief today, Elon pumps Doge again. Okay, okay, Elon, we get it. You like
0:58.2	Doge. You think it would be hilarious if Doge became the reserve currency of the Intergalactic Federation
1:03.3	because nature loves irony. We understand. But you can still choose to stop. Early this morning, Elon tweeted the doge father, S&L, May 8th.
1:14.0	Now, you would think at this point the ability for something like this to pump the price
1:18.1	of this meme coin would be nil, but oh no, that is not the case.
1:22.2	The thing is, it doesn't matter that many other parts of the crypto industry now have
1:26.7	prices that go up or down
1:28.2	more or less based on things like broad trajectories, macro narratives, and market structure-based
1:33.3	reasons. Doge is pure play money on a meme. That means that the relevant game isn't what
1:39.1	should happen. It's what do you expect other people think will happen. Right now, Elon tweeting about Doge,
	...

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