Unchained Visa Is Building Infrastructure for NFTs, Smart Contracts, and L2s. Why? - Ep.280
Oct 12, 2021
Cuy Sheffield, Visa’s head of crypto, shares insights from his fintech background and his journey into the cryptocurrency world. He discusses how Visa plans to bridge traditional payment systems with crypto, focusing on the integration of USDC and the importance of stablecoins. Sheffield highlights how NFTs empower artists and promote financial inclusion, particularly for underserved communities. He also addresses the evolving regulatory landscape and why enhanced diligence is essential in the crypto space.
AI Snips
Chapters
Transcript
Episode notes
Cuy's Crypto Journey
- Cuy Sheffield's journey into crypto began after Visa acquired his fintech startup, TrialPay.
- Living in San Francisco, he and his roommates explored crypto, noticing a knowledge gap between payment experts and crypto enthusiasts.
Bridging Crypto and Payments
- Crypto and traditional payment systems are not mutually exclusive but exist on a spectrum of decentralization.
- Visa aims to bridge the gap, connecting crypto wallets with its existing merchant network.
Seamless Crypto Payments
- Visa's goal is to enable consumers to use any asset, including crypto, at any merchant accepting Visa.
- This requires backend conversions, which Visa is streamlining with stablecoin settlements.