Banking and payment giants have disliked digital currencies ever since they were created, and it seems that this hostility is increasing after VISA\'s CEO declared his opinion, once more, on cryptocurrencies.

Alfred Kelly, VISA CEO, explained that he doesn\'t see bitcoin, the first digital coin, as a valid payment system, even though it is the market leader. At New York\'s National Retail Federation conference, he confirmed that Visa, an American multinational financial services corporation headquartered in California, will definitely not be welcoming cryptocurrencies or any new economy, and will not be processing such transactions. 

According to Kelly, Visa will only process fiat currency transactions. Explaining that he believes the cryptocurrency to be a commodity instead of a payment system, the CEO also added that he feels its prices are determined due to speculation.

At the end of 2017, stats began to highlight a promising acceptance of cryptocurrency as Visa had partnered with various digital currency payment service providers. Yet in early January 2018, Visa had begun to cut ties with all firms as a result of new limitations on WaveCrest, a Visa issuer. A spokesperson from Visa then went on to explain that it had ended WaveCrest\'s services as a result of its non-compliance with membership policies. Visa concluded that all its card programmes would be blocked as a result.