American Express nie planuje jeszcze wydawania kryptowalutowych kart kredytowych

The CEO of the US financial services giant American Express, Stephen Squeri, said they have no plans to issue credit cards linked to digital currencies anytime soon.

American Express's (AXP) share price is growing at an enviable rate, pushing the September level of $159 to its October high of $187 per share. But the CEO of the company is in no hurry to dive into the industry created on the basis of a new asset class. He announced this at the All Markets Summit to Yahoo Finance.

During his interview, Squeri said that for him the main cryptocurrencies on the market, Bitcoin and Ethereum, are identical to gold if we consider them as an asset class. However, according to Squeri, Bitcoin price volatility continues to be the main obstacle to becoming a legal tender.

The American Express CEO added that he is taking a disciplined approach to digital currencies, taking a wait-and-see attitude. Therefore, in the near future, AmEx customers should not expect the issuance of credit cards tied to cryptocurrencies.

The reason for refusing to integrate crypto assets was the “huge fluctuations” that are still present in the market, as well as “lack of legal protection for holders of cryptocurrency credit cards” and limited rights in terms of access to credit services of companies offering these types of credit cards.

At the same time, Squeri clarified that the company is closely following the development of the crypto industry in the United States and at the international level, therefore it does not reject the very idea of ​​integrating its products with cryptocurrencies. In addition, they are interested in government digital currencies, also known as stablecoins.

Interestingly, such a statement from the CEO of American Express appeared shortly after the news about the cooperation of Mastercard and Bakkt that thundered in the information field, thanks to which the shares of the latter skyrocketed from the $9 mark to the current level of more than $30.

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