Traditional credit card payments will hold their own amid the growth of cryptocurrencies, American Express CEO Stephen Squeri predicted at the company’s third-quarter conference call on Friday.

  • Unlike crypto, traditional credit cards offer customers rewards, service, the ability to challenge fees, along with the ability to extend loans, Squeri said.
  • Squeri said it currently sees cryptocurrency much more as an asset class, adding that clients don’t use AMEX to “buy stocks” or focus on buying crypto.
  • Squeri said he saw a role for digital currencies, however, adding that they can make cross-border payments “a lot more seamless”.
  • Right now, AMEX plays the biggest role in space in the NFT and stablecoins universes, Squeri said, citing using the card to purchase digital collectibles like NBA Top Shot.

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