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Visa expands in-house cryptocurrency team

Payment giant Visa is expanding the number of cryptocurrency experts in the company, after hiring five people to fill roles.

Visa has hired five cryptocurrency experts as the payment giant continues to build its in-house cryptocurrency team. In June, the company added two new members to its cryptocurrency team, including Catherine Carle.

According to the payment giant, Carle is tasked with focusing on crypto social impact and community partnerships. She is vastly experienced after working in healthcare innovation and entrepreneurship at the University of St. Thomas in Minnesota. She also worked at Monitor Deloitte, a strategy consulting firm that was acquired by Deloitte a few years ago.

Visa also hired Chike Ukaegbu, founder of New York-based tech accelerator Startup52. Chike is known for running for president in Nigeria, where he set the record for organising the first fully digital presidential campaign in Africa.

Cuy Sheffield, the head of crypto at Visa, said he is excited to work with such an amazing team. “I’m excited to share some updates on the Visa Crypto business unit and our areas of focus as we continue to grow the team and build the future of crypto and payments,” he added.

Visa is increasingly becoming active in the cryptocurrency space. The company already supports several companies in the sector by allowing them to issue Visa crypto debit cards. Visa also partnered with Crypto.com earlier this year to start accepting USDC stablecoin payments.

The payment giant intends to expand support to cover more cryptocurrencies in the future. However, as a payment company, Visa intends to focus on backing stablecoins instead of the regular cryptocurrencies like Bitcoin and Ether. The company is also gearing up to support the issuance and use of central bank digital currencies (CBDCs) once they launch.

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