American Express (Amex) sees cryptocurrency as an asset class, according to CEO Steve Squeri. He added that right now, the firm does not see crypto as an immediate or medium-term threat to its business.
American Express CEO Discusses Crypto Strategy
The chairman and CEO of American Express (Amex), Steve Squeri, answered some questions regarding cryptocurrency during the company’s Q4 earnings call Tuesday.
Squeri said: “As far as cryptocurrency goes, we watch cryptocurrencies … We think about the spectrum of digital currencies. We think about crypto. We think about stablecoins. We think about central bank digital currency [CBDC].” The CEO continued:
At this particular point in time, we view cryptocurrency more as an asset class.
Regarding crypto’s use as currency for payments, he said, “that’s a hard thing to utilize that way.”
The American Express executive further noted: “And as far as blockchain, we’ve got investments in blockchain companies … We constantly look at blockchain and figure out ‘are there use cases for us?’”
Commenting on stablecoins and non-fungible tokens (NFTs), Squeri said: “As far as stablecoins and NFTs and things like that, we’re partnering with, obviously, the NBA and Top Shot. And we’ll look at ways to get involved.”
However, the CEO revealed, “We’re probably not going to offer a crypto card.”
He further opined:
We keep our eye on cryptocurrency in case it becomes more stable. But right now, I don’t see it as [an] immediate or medium-term threat to our business.
What do you think about the crypto strategy American Express is taking? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
bitcoin news india, bitcoin current price in india, bitcoin binance, bitcoin buy india