American Express CEO Stephen Squeri says he views crypto as an asset similar to gold. From his appearance on Yahoo! Finance:
“I see it as gold.”
But Squeri doesn’t look at cryptocurrencies. that it is successful when used as a payment He claimed that volatility would hinder its success.
He also pointed to the fact that crypto holders are not entitled to arguments, rewards, or the ability to extend credit. This is why American Express has no plans to launch a credit card linked to it. Cryptocurrency can be:
“Maybe we haven’t seen the connection of Amex cards to crypto anytime soon,” Squer said.
his reason is Usually, credit cards are not used to buy stocks or gold.
Squeri added that his firm is interested in stablecoins. American Express is also closely watching the latest developments in the central bank digital currency (CBDC) realm.
Mastercard has previously announced a partnership with Bakkt, the cryptocurrency subsidiary of Bakkt. Intercontinental Exchange Binding Allows To Integrate Crypto Into Payments Major Networks Of Merchants And Banks
Bakkt shares, which went public on Oct. 18, jumped more than 200 percent on the news.
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