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American Express Sees Crypto as an Asset Class – Says It’s Not a Short-Term Threat to Business – Featured
American Express (Amex) sees cryptocurrencies as an asset class, according to CEO Steve Squeri. He added that the company does not currently view crypto as an immediate or medium-term threat to its business. American Express CEO Discusses Crypto Strategy American Express (Amex) Chairman and CEO Steve Squeri answered some questions about cryptocurrency during the company's Q4 earnings call on Tuesday. Squeri said: "As far as cryptocurrencies go, we're watching cryptocurrencies... We're thinking about the digital currency spectrum. We're thinking about crypto. We're thinking about stablecoins. We're thinking about central bank digital currency [CBDC]." The CEO continued: At this point…
American Express Sees Crypto as an Asset Class – Says It’s Not a Short-Term Threat to Business – Featured
American Express (Amex) sees cryptocurrencies as an asset class, according to CEO Steve Squeri. He added that the company does not currently view crypto as an immediate or medium-term threat to its business.
American Express CEO discusses crypto strategy
American Express (Amex) Chairman and CEO Steve Squeri answered some questions about cryptocurrency during the company's Q4 earnings call on Tuesday.
Squeri said: "As far as cryptocurrencies go, we're watching cryptocurrencies... We're thinking about the digital currency spectrum. We're thinking about crypto. We're thinking about stablecoins. We're thinking about central bank digital currency [CBDC]." The CEO continued:
At this point, we view cryptocurrency more as an asset class.
Regarding using crypto as a currency for payments, he said, “It’s hard to use that way.”
The American Express executive further noted, "And when it comes to blockchain, we have investments in blockchain companies... We're constantly looking at blockchain and figuring out, 'Are there use cases for us?'"
Regarding stablecoins and non-fungible tokens (NFTs), Squeri said: "As far as stablecoins and NFTs and things like that are concerned, we're obviously working with the NBA and Top Shot. And we'll be looking for opportunities to get involved."
However, the CEO revealed: “We probably won’t offer a crypto card.”
He further said:
We'll keep an eye on the cryptocurrency in case it becomes more stable. But at the moment I don't see it as an immediate or medium-term threat to our business.
What do you think about the crypto strategy that American Express is pursuing? Let us know in the comments section below.
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