American Express Sees Crypto as Asset Class — Says It’s Not a Near-Term Business Threat

American Express (Amex) sees cryptocurrency arsenic an plus class, according to CEO Steve Squeri. He added that close now, the steadfast does not spot crypto arsenic an contiguous oregon medium-term menace to its business.

American Express CEO Discusses Crypto Strategy

The president and CEO of American Express (Amex), Steve Squeri, answered immoderate questions regarding cryptocurrency during the company’s Q4 net telephone Tuesday.

Squeri said: “As acold arsenic cryptocurrency goes, we ticker cryptocurrencies … We deliberation astir the spectrum of integer currencies. We deliberation astir crypto. We deliberation astir stablecoins. We deliberation astir cardinal slope integer currency [CBDC].” The CEO continued:

At this peculiar constituent successful time, we presumption cryptocurrency much arsenic an plus class.

Regarding crypto’s usage arsenic currency for payments, helium said, “that’s a hard happening to utilize that way.”

The American Express enforcement further noted: “And arsenic acold arsenic blockchain, we’ve got investments successful blockchain companies … We perpetually look astatine blockchain and fig retired ‘are determination usage cases for us?’”

Commenting connected stablecoins and non-fungible tokens (NFTs), Squeri said: “As acold arsenic stablecoins and NFTs and things similar that, we’re partnering with, obviously, the NBA and Top Shot. And we’ll look astatine ways to get involved.”

However, the CEO revealed, “We’re astir apt not going to connection a crypto card.”

He further opined:

We support our oculus connected cryptocurrency successful lawsuit it becomes much stable. But close now, I don’t spot it arsenic [an] contiguous oregon medium-term menace to our business.

What bash you deliberation astir the crypto strategy American Express is taking? Let america cognize successful the comments conception below.

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