Monday, May 23

Amex CEO Suggests Exploring Ways To Let Credit Card Holders Redeem Points For Crypto By Cointelegraph

©Reuters. Amex CEO suggests exploring ways to allow credit card holders to redeem points for crypto

Credit card holders may one day American Express (NYSE:) can redeem points for crypto, but the company has no immediate plans to issue a crypto-linked credit card.

In a Tuesday interview with Yahoo! (NASDAQ:) Finance, Amex CEO Stephen Squeri said credit card holders “probably won’t see a crypto-pegged card from Amex any time soon,” but the company was already involved in using cards to stablecoins and monitored US government central bank digital currency developments. The CEO said he viewed major cryptocurrencies such as () as “more of an asset class” like the , but did not believe they would facilitate payments from the same way as credit cards given the volatility of their prices.

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“You don’t have the service with [criptomonedas], you don’t have dispute rights with them, you’re not getting rewards and you’re not giving credit,” Squeri said. “All those values ​​that happen inside a credit card don’t fit cryptocurrencies.”

Read the full article on Cointelegraph

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