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 that the rise of stablecoins may pose a threat to traditional payment companies, even if stablecoins provide consumers with a new way to pay without a credit card. The payment giant sees the rise of stablecoins as an opportunity. Cuy Sheffield pointed out that stablecoins do not solve too many problems in retail payments, because data shows that most of the stablecoin transaction volume comes from high-value transfers rather than retail transactions. He added that the opportunities for stablecoins are mainly in emerging market-centered economies outside the United States, which have demand for US dollars but do not have many channels to obtain US dollars.