Cuy Sheffield, Head of crypto at Visa

Sheffield worked in partnerships until June 2019, when it was announced that he would assist Visa in its entry into the realm of cryptocurrency as the group’s new head of crypto. Sheffield is also a co-chair of the World Economic Forum’s Global Future Council on Cryptocurrencies and a member of the Digital Dollar Project’s advisory board.

This is an amazing visualization of streaming stablecoin payments on @Superfluid_HQ that highlights what you can do with programmable dollars that run on top of open, permissionless protocols

https://twitter.com/cuysheffield

2023

Cuy Sheffield, Head of Crypto at Visa, discussed the revolutionary possibilities of blockchain technology in a recent blog post. Sheffield claims that in the early years of the internet’s existence, several people were skeptical about its ability to completely transform a number of aspects of daily life. But as he noted, developments in technology like the internet, Wi-Fi, and 3G connections allowed the internet to grow and become a necessary component of contemporary life. According to Sheffield, blockchain technology is at a similar crossroads—it is viewed with suspicion yet has the potential to expand and be widely used.

Sheffield said that, together with Crypto.com, Visa has been in the forefront of testing stablecoin settlements on the Ethereum. According to him, the business incorporated the Solana blockchain, which is known for processing more than 2,000 transactions per second, and extended its settlement pilot this year to include issuer and acquirer partners. Sheffield claims that in the future, the Visa network may incorporate numerous currencies, stablecoins, blockchain networks, and central bank digital currencies (CBDCs).

Here you can watch the latest interview with Cuy Sheffield:

2022

Visa published a report on digital payments and small businesses in January dubbed “Visa Global Back to Business Study — 2022 SMB Outlook.” According to the report, 82 percent of the companies polled said they will take some kind of digital payment option in 2022, with 24 percent planning to accept cryptocurrencies such as Bitcoin.

Visa also revealed more information about its central bank digital currency platform in early January. Given its recent discussions with more than 30 central banks about digital currencies, the company is confident in launching a pilot program with ConsenSys. Visa will compete directly with Mastercard, which will start a similar effort in September 2020.

Visa will definitely continue to follow these companies in order to advise and support them in their cryptocurrency ventures. Sheffield is likely to play a significant role in the successful transition of these units based on the company’s experience.

Latest news about Cuy Sheffield

• Tangem, a Swiss hardware wallet company, is undergoing a full-scale product upgrade and rebranding to strengthen its position in the market. The company has received VISA certification for its payment solution, Tangem Pay, which integrates the payment card’s chip with Tangem’s applet, allowing users to make payments directly with their crypto at all 95 million Visa terminals worldwide. The rebranding initiative includes new features, a firmware audit, 24/7 multilingual human support, an address book, and a new product page.
• Visa is expanding its stablecoin settlement capabilities to the Solana blockchain, citing its high performance and throughput. The company has already facilitated the transfer of millions of USDC across the Solana and Ethereum blockchain networks to settle fiat-denominated payments authorized via VisaNet. Visa’s treasury and settlement systems enable the clearing, settlement, and movement of funds between consumers’ and merchants’ banks. The company has partnered with global acquirers Worldpay and Nuvei to speed up transaction times.
• Visa has tested a new solution allowing users to pay gas fees with credit or debit cards, using a paymaster contract and account abstraction. This simplifies gas fees and eliminates the need for users to have cryptocurrency in their wallets. The solution uses paymasters to enable user-centric transactions.

Latest Social posts of Cuy Sheffield