Gonzalo Pérez del Arco, director of government relations at American Express in Southern Europe, has said that crypto payments will become a reality in the future, but they are currently not cost effective.
According to him, at the moment, crypto payments are not relevant for a number of reasons, including due to high transaction costs and the unwillingness of merchants to accept digital assets.
He has noted that the company is interested in using cryptocurrencies and is working in this direction. He has added:
“Because this is the right direction that competitors in the market are picking up.”
He has said that American Express is betting “big” on cryptocurrencies with investments and development of multiple use cases through its venture arm Amex Ventures.