While several countries, notably China, regard cryptocurrencies as dangerous and have warned banks not to accept them, financial service institutions aren’t ignoring crypto.

Even the masters of global payments — companies like Visa — are adapting their networks to ensure that new forms of money can be used in a “secure, convenient and reliable manner”.

“You have this emerging class of wallets with tens of millions of consumers and billions of dollars of assets, and then you have traditional merchants that have a big challenge to figure out if it makes sense to directly accept these [cryptocurrencies],” said Cuy Sheffield, head of crypto at Visa in San Francisco, in a closed livestream the FM was invited to.

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