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Good morning everyone. Thank you for being here. Welcome to the event Crypto: from Speculative Asset to Payment Tool. Today I would like to introduce, joining us is Filomena Ruffa, General Manager, Latin America at crypto.com. Hi, Filo, how is it going? You're on mute. [laughs] Hello, good morning, Fabiola. Thank you so much for having me. I am really happy to be here with you all. Thank you for joining us. Also joining us is Arnoldo Reyes, VP and Head of FinTech Ventures and Business Development at VISA. Hello, Arnoldo, how is it going? Thank you, too, for being here. Hello, Fabiola. Pleased to be here with you. Thank you. Thank you. Also joining us is Kevin Fox, Global Head of Sales at i2c. Hi, Kevin, how are you? Good morning everyone. Thank you, Fabi. It is my pleasure to be here with my colleagues Filo and Arnoldo. Thank you, too. Well, before starting the conversation, I'd like to mention a few features of this platform. On the right hand side you'll find a chat box where you may make any comments and, why not, you may join the conversation. You'll also find a tab for "questions". This is where you may write any queries and, at the end of the conversation, we'll set apart a few minutes to answer them. So thank you for being here and I think we might just start. It is well known that cryptocurrencies have gained adoption and traction as a means of exchange and a store of value. But the technology supporting these digital assets is emerging as a potencial market solution, with a wide range of use cases coming up, beyond the conventional financial transactions that we all know. Is that right? But this emergence of the crypto environment is possible because there are several institutions worldwide supporting it. So, considering this landscape packed with opportunities, and challenges too, I'd like to start with Filomena. It'd be nice if you shared with us a broad perspective on the evolution of digital currency from its initial form as a store of value, as I mentioned, as an investment method, towards satisfying the customers' current needs. Yes, of course. Looking at the last 10 plus years, digital currencies or cryptocurrencies started as a means to store value, to get around the vulnerability of local currencies. So, for example, emerging countries and regions such as Latin America suffering from, for instance, local currency instability volatility, inflation, and consumers turned to cryptocurrency to simply safeguard their assets, their wealth. But this use of cryptocurrency evolved in time. Why? First, because many cryptocurrencies were created and their use started to shape new use cases, and a new demand for it on the part of consumers and customers. Another use of cryptocurrencies nowadays is as a means of exchange to purchase goods and services, and, in some cases, they are replacing payment methods. Why? Because, with this, transactions can be made faster, cheaper, more efficient, and this will result in an improvement, in the sense that the whole ecosystem will benefit from the efficiency of the blockchain technology, which you mentioned before. Further use cases we can see include the use of crypto as an investment method. We are seeing more consumers, in general, seeking alternative storage for their savings, even earning interest sometimes, or benefiting from the fact that cryptos are rising in value, right? In terms of tokens, in terms of the value of tokens. So we're seeing more and more new crypto companies shaping an ecosystem that is almost parallel to the banking system, where consumers access the new crypto platforms in order to have access to innovative financial services. If we speak about the crypto.com experience, this is a quite young company. We began our activities in 2016. We entered the market when we released the app, which hosts our whole platform and all our offering, in 2018, and our vision is to bring cryptocurrency to every wallet, and our mission is to accelerate the transition to cryptocurrency for different use cases. In the end, these ecosystems are being created that, partnering with banks, brands and other financial companies, will actually bring a lot of value to the whole financial ecosystem. [unintelligible] Yes, exactly as you say, it seems that a new ecosystem is arising, parallel to the traditional finance system. Kevin, could you give us a general commentary about what opportunities crypto or the technology behind it are bringing about both for users and for companies adopting it? Yes, it'd be an honor. In line with Filo, I fully agree that this place is changing the payments industry and is the area with the largest growth. i2c is a global platform and we are proud to support companies such as crypto.com, together with the VISA partnertship, in over 38 countries as of today. We just released Brazil two weeks ago, isn't that right, Filo? As a consequence, we've been able to gather significant information during the last several years. And we carried out some research which we will soon publish, and it yielded very interesting findings and can serve as a base for value building, and trends and opportunities that come with this transition from the world of digital currencies to invest only or store some value, to the world of payment methods. Some specific things we found, which I find really interesting, is that across all transactions arising from the five million cards, over 40 countries and 3 continents that took part in our study, we found that people who use crypto aren't necessarily millennials. Over 45% of the accounts we researched belong to people over 35, 11% belong to people over 50 or 60 years. There are some over 80 and over 90 which we came across, which I find really interesting. It is not just the younger demographic, the more tech savvy people. And I'm talking about cards linked to a crypto value base. This is exhanged to local currency and used in more traditional environments and channels. We also found that the frequency of usage is very similar to that of traditional cards. Where, when someone uses these solutions, they do so with a lot more frequency than expected. They are more loyal to these solutions and cross-border transactions have increased. 28% of all transactions are cross-border transactions and we see 7% more value per transaction when compared to traditional cards. Finally, when it comes to channels, we do see some channels with a larger volume than in the traditional world, specifically when it comes to digital products, I'm talking about the Netflix's, Uber's and Amazon's of the world, so in these channels, in these environments, its use is more significant than that in traditional products: 31% in digital products vs. 14% in traditional. Air travel typically represents 1% use in the traditional world, as opposed to 2% of total crypto transactions being for air travel, so this is a 100% increase. In the area of general transportation the use of crypto is twice as much. With all this data come many new innovation opportunities and opportunities for use cases where crypto is used as collateral for a loan, and not only for remittances, but also for cross-border purchases, for loyalty solutions, and many other use cases which I know we'll be discussing in further detail today, Fabiola. I just wanted to share this data because I think our audience might be interested in understanding where the crypto world is going, that it is already linked to payment methods, and what the possibilities are. Yes, indeed. We'll be speaking later on about all these things you mentioned, but the information you shared with us I find very useful. Arnoldo, when it comes to VISA, what is your perspective about the financial potential of these digital assets? How are you preparing for this increasing introduction of digital assets into the finance landscape? We are undoubtedly making large investments and focusing on this ecosystem. Our crypto team has grown to over 40 people during the last months. We've made over 50 partnerships worldwide, including crypto.com with whom we launched payment credentials in Brazil two weeks ago. Our company perspective has been the movement of value for the past 60 years, and this value has been evolving, with debit, credit and prepaid cards, and we're seeing consumers from across the world and, as Kevin said, across all ages, adopt a new form of value which is just a digital version of money run by cryptographic keys on blockchain technology. But it's still a means of exchanging value. Thinking about our worldwide connectivity, with 70 million VISA access points or acceptance points, we think that, obviously, we're well prepared infrastructure-wise, technology-wise and also in regard to our purpose, to be able to support these new technologies. Ultimately, when you make a sale or a purchase with cryptocurrency, you're simply exchanging value, only the value has shifted in its form, but we still see the process in the same way and we've seen it evolve. We're focused on several topics. First, of course, is acceptance. It could be said that keeping and storing crypto was the "crypto stage 1.0". Right? "Crypto stage 2" comes down to how consumers and even companies will begin to exchange this crypto, this value. One of the main hinders of mass reception of crypto has been acceptance, I mean, you cannot go to a restaurant in Santiago, Chile and say "I would like to pay in crypto", nor buy a plane ticket with it. While some stores do accept crypto, most don't, so we're focused on building partnerships with companies like crypto.com, to allow the issuance of a payment credential, which provides the consumer, the crypto.com user, with liquidity to use a VISA card anywhere, thus being able to use their crypto in the real world. On the product front, we're investing in creating technology to support this, we were the first payment network in the world to enable crypto as a liquidity currency in the VisaNet infrastructure. What does that mean? At VisaNet we currently work with over 150 currencies and settle transactions with about 30 currencies, we've added USDC, a stablecoin, as another currency within the VISA infrastructure and we've made large investments in product, we've launched our crypto API in the USA which allows our customers, whether banks, stores or fintechs, to offer their customers the possibility of buying, selling and storing crypto without the trouble of connecting with third parties, having to go through regulations, etc. I'd say that, as a company, we're focused in facilitating a digital flow of value, today it comes in the form of crypto, probably in a different form in 20 years, and we're making massive investments in commercial partnerships, in education and in new sectors. I'd also like to mention that we're really diving into non-fungible tokens or NFTs, we do notice that this particular area is shaping a new digital commerce ecosystem and making commercial opportunities around the world more democratic, so, wherever there is crypto and blockchain supported technology, that's where we shall continue investing. Awesome. That's exactly what I meant when I said we do have institutional support driving this situation forward. Before moving forward, I'd like to remind you there's a tab for questions, where you may write any queries and we'll set apart a few minutes at the end to answer those. I heard Kevin, Filomena, and you too, Arnoldo, talk about how a first opportunity in the crypto environment came when they were a means to make safe, low-cost and almost immediate transfers. This also makes crypto an ideal way of sending remittances, isn't it? A while ago, a pilot test was made, where remmitances were sent from the USA to Mexico with a currency exchange reduction of 70% and a total time of two minutes. But, Filomena, what are the pros or the benefits of using crypto to send remittances? You very well said that in the field of remittances, using blockchain technology and using crypto is bringing about a lot of benefits. First, the cost. The speed. Also, it adds visibility to the transaction. This is key, specially in critical remittance routes from the USA to LatAm countries. So, from this perspective, I think it is highly positive, and I see that cryptocurrencies are bringing many benefits. But there are challenges, too. Since the remittance receiver is getting, in a certain way, crypto, it is critical that they can understand how to turn these crypto into something that they can obtain goods and services with. So, for example, I think it is very important to recall what Arnoldo said about this ecosystem, so that people are able to use these crypto in their daily lives to purchase goods and services. So, definitely, remittances will benefit from this new ecosystem and from this technology, and, in general, remittances will become faster, safer and less expensive, but we will always need to find a way for people, then, to turn these digital currencies into something they can use in their daily lives. Kevin, in your opinion, how close do you think we are to calling cryptocurrency the future of remittances? Or, alternatively, to make transfer methods more flexible to suit the receivers' needs. Look, it is quickly becoming the international currency. Considering that two days ago, Square's Jack Dorsey announced he's renaming his company Block. A company like Square, with its brand value, changing its name to Block, sends a powerful message about the current trends, what is being created and where things are going. When it comes to remittances, I'd say it is conceptually very easy to understand the change of a cryptocurrency, with its value, into a fiat currency, whichever it is. It is less complicated than changing dollars into Argentine pesos, reais or any other currency, because this needs a ForEx trade to be able to solve the change from one currency into another. Cryptocurrencies have a value of X and it is the same value anywhere in the world, so they are easily exhanged via platforms like crypto.com or the VISA rails to be able to access the world and the global channels to transact. A lot of education is still needed, of course, but we are seeing an exponential increase at the time that we give consumers access to buy, store and transact with this channels, I believe we will continue to see an increase and the information I shared earlier is growing incredibly every month, so yes, I am very enthusiastic about the future. A few tax and regulation issues are yet to be cleared up, and each country has its own dynamic and its own perspective and we might see some challenges with regard to that, but, broadly speaking, the industry, including traditional financial entities, is deeply interested in this field and is looking at how to participate. Arnoldo, Kevin said that education is a challenge. Could you mention any additional challenges in the world of crypto remittances? I'm also wondering, what opportunities are there specially in rural areas, where opportunity costs are less for these transactions? To begin with, I want to mention that we live in a world where you can buy a car, even a house 100% online. Right? However, we still have people sending remittances by physical means, paying about 7% for that transaction, that is, for the remittance plus the currency exhange, in the market. If we think about the size of the international remittance industry, which is officially 700 to 800 billion dollars, but the actual number might be around a trillion dollars, in Latin America slightly over 100 billion dollars were sent last year, when we see that, it is clear that "something is not working in the traditional system", right? I think this is a great opportunity to leverage blockchain technology, because it technically doesn't involve any movement of money across the border, no money moving, just "propietary titles" over a cloud-based blockchain asset being moved from person to person. With this technology, and Filomena mentioned a key aspect, transaction times can be shortened up to 20 minutes, you'd be able to send a remittance any day of the week, any time, prices would of course be lowered, as I said, 7% is world average. I'm from Nicaragua. Currently, a Nicaraguan in Costa Rica sending a remittance back home would pay almost 15%, depending on where the remittance is sent to. So costs would be lowered. There is also the issue of accessing the markets of rural zones, this is highly complicated. We are seeing some instances of this in El Salvador, for example. Those are the benefits. A challenge continues to be education. This topic requires a certain amount of technical knowledge, in the sense that, they send me cryptocurrency, how do I exchange that locally? Other challenges are very specific issues, like, transactions are non-reversible, etc. But I do believe we are testing this new flow with companies worldwide and testing the solutions that we have, such as Kevin mentioned, our rails, particularly with VISA Direct, which allows the person receiving the crypto remittance to turn it into fiat money in whatever app they are using and to push those funds to their bank account almost immediately or even to a prepaid card, so that they can then use those funds in any sales point. So there's a lot to do. The regulations issue has always been somewhat cumbersome, not so much because of unwilling regulators, but because this industry is still in a learning phase. Right before VISA I was working at a company called Abra and we tried to do this, we tried to create an original version of the company to facilitate international remittances from the USA to emerging markets and we came across these challenges, how can we explain to the regulators that no money is technically moving, and how can we help the receivers have an intuitive experience where they don't even have to see crypto, considering they are used to visiting the traditional remittance company where they hand over 100 dollars and just know their family will receive 90 or 92 dollars. I think there is still a lot to do. We do see a great potential, not so much remittances, but on cross-border business to business payments, or b2b payments.. Nowadays, with our B2B Connect platform, powered by blockchain technology, transactions are being made from the USA and other parts of the world using this platform to send high volume payments to Latin America. This platform is currently operating, but it is used for higher tickets. I do believe there is a big opportunity to leverage this technology and teach consumers and other system players about the potential benefits, and make low volume movement more viable with this technology because, honestly, there are no intermediaries, no cost, no significant additional cost to what we see currently. In line with your comments, Lorena has a question. "Considering most countries have no regulations for currency exchange, how can banks make agreements with other banks to sustain transparency and responsible regulations, in order to bring safety to users and protect consumers?" Maybe one of you would like to take a minute to answer Lorena. I could start. Considering my experience in my previous position, from a regulatory point of view, crypto regulators are paying attention to two things. First, custody. As long as there are platforms taking care of "sending" remittances or sending crypto payments, regulators will want to know who has custody of the digital asset. If I was a Mexican citizen, the Mexican government would be rightly interested in knowing where my digital assets are and who has custody of them. That's the first item. The second item has to do with "know your client" initiatives, anti-money laundering, etc. Right? Of course, traditional institutions have policies in place providing them with more information and they just know the client better, whereas the crypto world is 100% cloud-based, so regulators always want some more visibility into who you're including in your platform and how you're including them. Judging by the conversations we had, traditional banks showed a great interest. We've been talking about crypto since 2012 or 2013, at least I have, and maybe Filomena will agree with me that the actual "this is for real" moment only started about 18 or 20 months ago, the moment when we're seeing great investments coming into the field, when use cases are proven to work, and, thanks to blockchain, decentralized finance is gaining traction, web 3.0, the metaverse, payment systems based on cryptographic tecnhology. Many banks have shown an interest. I think the task we have at hand is to help users access the real world, because it will be many years before stores and other entities are able to take payments in crypto. So with many banks we're starting to dive into product, technology, and even some digital enablers for programs, similiar to the ones we have with crypto.com. Another potential use of crypto is, like Kevin mentioned, the loan industry, where these assets can be used as collateral or warranty to unlock cash. Arnoldo, how do crypto loans work? And what business opportunities are there regarding this product? Crypto loans are relatively simple. As of today, when you apply for a loan, banks and the traditional system have always asked for collateral. So called "cypto loans" work like this: you have, say, 50,000 dollars' worth of Bitcoin and you give to a digital exchange or a cryptolending company, your 50,000 dollars worth of Bitcoin, for example. The asset is still yours, but you give up your right to sell or exhange it for as long as this entity is lending you the fiat money. Sometimes, these loan companies grant 50% to 90% of the value. An important reason why people decide to do this is because they need a loan but they don't want to sell their Bitcoin to get liquidity, instead, they can just use Bitcoin as an asset, it's like using your house or your car as collateral. What's interesting about this is that an existing risk in the cryptolending world is that you may take out a loan, say, a 70,000 dollar loan against your 50,000 dollars' worth of Bitcoin but what if the price of Bitcoin goes down? It is an existing risk. In the cryptolending world, there's a catchphrase called HODL (hold on to dear life) because many people giving out crypto loans frequently bring this up, that, well, if the price of crypto goes down, you'd obviously face a bigger loss, because you'd have to pay out the loan plus your loss in crypto value. I think benefits are relatively positive. Today, in the USA at least, you can take out a loan with low interest rates, not as low as a mortgage loan or a car loan, but in the US you may find 10% rates or even lower, these consumer loans have low interest. These platforms often don't check your credit history, so even if your credit history is not so good, if you have these assets you may use them as collateral and it would work fine. You can choose in which currency you want your loan, it may be in dollars or in another cryptocurrency. Funds are typically added very quick. So I think this market will continue to move forward. I'm in Buenos Aires today, and here are many companies currently providing these services, I think it is a very interesting alternative and a relatively simple process, where you offer your crypto assets as collateral for a loan. Filomena, why would someone give out a loan with a crypto collateral? I mean, when does it make sense for the user to apply for this kind of loan and for the institution or the platform to grant it? From our experience, we have a loan feature linked to the credit card program that we offer worldwide. We offer a solution called Power Spending, where, with our card program, people can use crypto as collateral to ask for a loan. In line with Arnoldo's comments, for the user it would make sense when they have a crypto porftolio that, on the one side, it will hopefully rise in value, but they can also use it to fund their everyday activities. Because, for example, to apply for a loan at the bank you'd need a collateral, you'd need time and the bank would carry out a KYC, regardless of your relationship with the bank and how long you have had your account for, whereas with crypto platforms this is almost immediate. I see this as a consumer loan. For example, if you need some extra money to cover an unexpected expense in a week or a month or so, you may use your digital asset to fund whatever you need to do. I see an opportunity to use their wealth stored in platforms such as ours, crypto.com, for example, and also a way to access a financial service such as a loan without having to resort to a bank. This, in a way, should give banks something to think about. I mean, these financial products have always been covered by traditional banks. But, once again, consumers go elsewhere for alternatives. Consumers are looking for ways to use their wealth. As we all know, nowadays in many countries, people putting all their wealth in a bank may not be able to use it, and it is their wealth, but they don't have any control over their money, their funds. The crypto platforms, for instance, become once again a very attractive alternative for consumers who just want to use what they own, and fund what they need to cover their expenses with a very low interest rate, using cryptocurrencies as collateral. This is where I see the real benefit for consumers. Perfect. Kevin, in your opinion, what lays ahead for this product in LatAm? And, in line with Filomena's comments, do you also think this situation sets a precedent for maybe cryptobanks in the region? Sincerely, I totally agree with my colleagues in this panel. I think the future is the world of using crypto as an asset to offer a variety of loan services, because it means getting rid of the need for a conversion. Currently, most programs worldwide are prepaid or debit, and this means, as Arnoldo said, that when you go to a café you have to sell your crypto to be able to buy a coffee, and people do not quite realize yet the associated costs and impact from a tax standpoint, from a transactional costs standpoint, conversion, etc. I think the consumer is just not thinking much about these factors, they're just using it or they do not really care right now, but on the short term they will become aware of the real cost of converting into fiat and as Arnoldo said, they will realize that they can actually use the asset that they have as collateral for a loan, banks and financial entities are starting to view this asset as something more "stable" and are willing to assess whether they grant a loan against it. New use cases will come from this direction, like the ones we're seeing already, that will really disrupt the business. Because you're essentially not using crypto as a payment method to exhange it and complete a transaction, insteead, you're using it as an asset that backs and supports the liquidity that a loan requires. In this sense, I think many companies will begin to offer a variety of financial services and solutions that they didn't before. Consumers are evidently needing to increase their liquidity and purchase power in this means, and I don't think is has grown as much as it could, yet. Just adding up to Kevin's comments. it may sound ridiculous, but picture someone who doesn't have a good credit history or a physical asset such as a house or car that they can use as collateral, who also doesn't have enough fiat money to use as collateral, but they do have digital assets. In the world we live in today, these digital assets should start to be seen as liquid assets, shouldn't they? I think in the near future.... of course digital platforms are already doing this, but in the near future traditional institutions will say "if you have this much worth of X in Bitcoin...", of course, calculating their risk and the rise and fall of crypto, but these institutions should begin to welcome digital assets, allowing them to work in such a way that they may be used as collateral. So this is a very interesting area for those of us, I think I speak for all my colleagues, those of us who've been on this field for years, I think this will bring about a significant change to this industry. I'd like to mention another opportunity scenario which you mentioned earlier, Kevin, the loyalty programs, where crypto cashback and crypto rewards are becoming the new trend, Kevin, how can institutions leverage this solution to connect with new and existing clients? Look, I don't think this use case differs much from the traditional ones. Loyalty programs are essentially a motivation to spend because you will get some form of reward, in the form of points, cashback on your credit card or a Bitcoin wallet that adds up or any other cryptocurrency wallet that adds up as a consequence of a particular payment method. This is migrating from the world of traditional financial services and it's now adding several elements in order to offer several creative possibilities for consumers to become more involved and for companies to have a financial offering that is different to that of the market that they want to sell to, and using these solutions within a comprehensive offering. I don't think loyalty will change so much as a concept, but implementation of cryptocurrency and crypto solutions within the loyalty offering, this will bring about many new interesting cases implemented by several different financial institutions and organizations, both traditional ones and new market disruptors. We know that US users are interested in earning digital currency as an alternative to traditional reward programs such as cashback. But, Filomena, what potential does this crypto usage have in LatAm? Kevin's comments and also your words are all very interesting. I see it from two points of view. Firstly, crypto companies such as ours are pushing card programs with a high cashback rate in order to build real customer loyalty. Our vision is actually making our card top of mind for consumers, that they might use it for everything, every day, actually getting up to 8% cashback with unlimited purchases and no limits in any verticals, and it is a global program that is really driving customer loyalty on a global scale. For instance, so far we are in Brazil with the same loyaly program that applies everywhere else in the world. This on the crypto platform side. However, I see huge opportunities in two other areas. First, banks. Where is this opportunity? Banks have loyalty programs where their consumers store points for 10, 20 or 30 years. Up to a point, it's like we all know. I participate in many loyalty programs but I never redeem my points because I don't know what to do, I don't know how to redeem them or what added value is in them. I don't think I'm the only one, I think many people don't redeem their points. I think this is where banks have the opportunity of joining cryptocurrency platforms to be able to offer their clients alternative ways of redeeming those points. Banks will be able to say to clients "You know what? These points that have been sitting here for 10 years, you may know redeem them and get something with an actual value." This is the first big opportunity. The second opportunity is for companies to implement loyalty programs including conversion into crypto as part of their value proposition for clients and consumers. Once again, we're focusing on how the ecosystem can create collaborations and partnerships, leveraging all the stakeholders' diverse capabilities to, in the end, enhance their value proposition for those clients looking for alternative ways to redeem their loyalty points into something more innovative and, hopefully, more interesting. That is my opinion. Yes, I have a question as regards this. Arnoldo, what are the key aspects of, precisely, developing a crypto-oriented loyalty program? You're on mute, Arnoldo. I'm sorry. Before replying, I'd like to provide more context to some things Filomena said. Our industry, call it payment methods, financial services, has not made any innovations on the loyalty field. The card cashback concept was introduced in 1986 by Discover and has been very appealing for many years, at least in the USA it has been a solid loyalty method, however, nowadays I've seen 3% or 4% cashback, tops. My point is that no innovation has been made on this front, at least in our sector. I don't know if many of you are well up on cashback, but when Filo said 8%, that is huge, no one should walk away today without requesting their crypto.com card, this a never-before-seen cashback. What does that mean? An opportunity to disrupt the loyalty scene. Currently 44% of all Americans expect some kind of loyalty program with digital currency, almost half of the card-holding population. So I think this is a huge opportunity. There is now a large number of loyalty programs from companies such as restaurant chains giving their rewards not in Bitcoin nor other cryptocurrencies, but creating their own digital currency, incentivizing consumers to visit the restaurant again. Some companies like TripCandy offer hotel bookings and air tickets and give consumers a digital currency, also Lolli.com has been a success in the USA, where you make a purchase in a store linked to Lolli and you get some Bitcoin. I think we'll see this proliferate over the next years. Today traditional banks are only offering cashback and airline points, because that's how the industry works. I don't know how many points I have, maybe they expired, I don't use them because I don't find them very useful. Together with companies such as crypto.com, VISA, our friends at i2c, we could be thinking about which new products can be created for the traditional sector, providing banks with crypto-loyalty solutions for the future. As you mentioned, the success of a crypto-linked loyalty program depends on how easy it is to redeem rewards, how intuitive it is, and how useful people deem it, I think many people today are interested in owning crypto assets and if you offer this in a friendly way, with lots of usefuleness, then yes, as I said earlier, I'm confident that loyalty programs associated with digital currencies will proliferate. Apart from the programs we're implementing with crypto.com, we have more programs with other companies where cards give back a certain percentage in Bitcoin. Others, like the Fold VISA debit card, give you chances to earn Bitcoin with every purchase. So, at the end of the day, this is excellent for everything and will bring about a new paradigm of banks, restaurants, stores, the ecosystem as a whole, rewarding loyalty in a new way. Right? Personally, I'm very excited about this crypto loyalty thing. I'm also so excited that Filomena, Kevin and Arnoldo are sharing their new partnership with the audience. When three institutions of this size come together and offer services to users, and the impact of that in the financial solutions available so far. I'd like to share something here, because I'm so proud of the partnership we've made between crypto.com, VISA and i2c. You cannot do it on your own. Especially if you want innovation. For instance, Facebook tried to do it on its own with Libra and didn't succeed. When you choose to work with partners who complement you, you can reach the market faster and everyone wins. Crypto.com is providing a phenomenal user experience, with very high usability, where users can make the most of the buying and selling features and use different cryptocurrencies from their wallets. VISA offers agility, access to the payments world, acceptance with VISA Direct, immediate movements of money. These are the rails supporting the money movements and we at i2c are a global platform allowing crypto to use a single platform and a single API to arrive in several countries and provide a consistent user experience. We've launched it in several countries, Australia, Hong Kong, Singapore, Canada, Brazil more recently, and the whole of Europe. And so many more to come. We have a long way ahead, but we're moving really fast. The partnership between us gave each of us a role a part in the value chain. Everyone does their part and is very aware of their respective responsibilities, and we deliver wonderfully. I completely share Kevin's feelings and we are so grafetul about our global alliance with VISA and our global alliance with our processor, i2c. Kevin's company, i2c, is really helping us to scale globally which is key for things to take off quickly. I'm confident that the collaboration and partnership between these companies is extremely importante for us to complement each other's capabilities and bring innovation for consumers. I'm so thankful to the VISA team, to Arnoldo, to the global and regional teams, the Brazil team specific to Latin American, because they supported us and worked with us every day, from day one, from the release. This is not just something we do because it is our work, but we need to feel that on the other side there is a similar passion, that their goals are in line with yours. Over the past years VISA taught us what it means to be a leader, because VISA is driving not only crypto throughout the world, but innovation in general. Product innovation, experience innovation, new relationships, new alliances, and they are actually building many new ecosystems. To wrap this up, I want to say that I hope we'll be opening up new markets in new countries together and bringing new solutions for consumers, together. In my mind, there is nothing better than creating innovation and disrupting with your old friends. It makes the journey so much more appealing. I've known Kevin so many years, Filomena too. I think this is what matters. Industry change will not come from a single player. It will be brought about by collective thinking and alliances. And this is very important. Something has been changing in the industry. Some years ago, it was digital players versus traditional players and it was like this Barbarians at the Gate film, but nowadays it changed a lot and this is what it's about. The payments industry, the financial services industry, the commerce industry will change day to day. When the Metaverse and web 3.0 become prominent and the technologies for the upcoming world become more prominent, counting on companies like i2c or crypto.com will be a must, because these players are opening up a path into the future. Like I said, VISA's purpose remains the same. It's just the technologies and the way we do things that changes. I love that us three are involved in this and actually enthusiastic about it, not just doing it because it's our job, but the fact that we're enthusiastic about where the area in moving to. I'm so excited that you were able to share your experiences, lessons learned, challenges and how you overcame them with us today. I thank you so much for sharing this space. Thank you, Kevin, thank you, Filomena, thank you, Arnoldo. You'll see a survey on your screens. I hope you can answer it, it will help us improve our topics to discuss and the general production of these events. Thank you so much once again, Filomena, Kevin and Arnoldo for being here today and thank you everyone for tuning in. My pleasure. Thank you. Cheers. Thank you. Thank you, see you next time.

Video Details

Duration: 1 hour, 3 minutes and 45 seconds
Country: Andorra
License: Dotsub - Standard License
Genre: None
Views: 6
Posted by: ddiaz113 on Dec 9, 2021

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