How American Express is 'Testing the Waters' of Bitcoin and the Blockchain
American Express, through its venture capital arm American Express Ventures, is looking to use its recent investment in bitcoin remittance startup Abra's $12m Series A as a way to more closely observe the digital currency industry and the technology behind it. AmEx Ventures managing partner Harshul Sanghi told CoinDesk in a recent interview that, for the 165-year old company, it's too soon to predict how it might leverage the technology or what use cases might take shape. "It's very, very early days for us, right? And ... we get to explore and see how the space is going to evolve," he....
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American Express (Amex) sees cryptocurrency as an asset class, according to CEO Steve Squeri. He added that right now, the firm does not see crypto as an immediate or medium-term threat to its business.
American Express CEO Discusses Crypto Strategy
The chairman and CEO of American Express (Amex), Steve Squeri, answered some questions regarding cryptocurrency during the company’s Q4 earnings call Tuesday.
Squeri said: “As far as cryptocurrency goes, we watch cryptocurrencies … We think about the spectrum of digital currencies. We think about....
American Express and Abra are launching a new credit card that will allow shoppers to earn cryptocurrency rewards “tradable across over 100 different cryptocurrencies” without annual or foreign transaction fees.
American Express and Abra Launching Crypto Rewards Credit Card
American Express (Amex) and crypto trading platform and wallet provider Abra announced the upcoming launch of the Abra Crypto Card on the American Express network Friday. Abra described the new card as:
The first crypto rewards credit card on the American Express network that will transact....
While competitors like Mastercard are embroiled in acrimony with Bitcoin and it's proponents, American Express (AMEX) has a more diplomatic approach to the digital currency. Globally, American Express holds a distant third position in credit card transaction volume behind Mastercard and industry leader Visa. American Express Chief Executive Ken Chenault shows respect to Bitcoin technology and what it may offer to the future of finance. Still, he does view it as more of a direct competitor than a potential ally. Also read: Mastercard Attacks Bitcoin in Australia. American Express: People....
Credit card giant American Express has joined the Linux Foundation-led open-source cross-industry blockchain working group, the Hyperledger Project. In yet another noted example of the traditional financial services industry turning to Fintech’s poster child in blockchain technology, American Express has joined the Hyperledger Project as a ‘Premier’ member. In a statement, American Express information chief and vice president Marc Gordon said: We’re excited to join Hyperledger, as we’re looking to take full advantage of blockchain to deliver new and innovative products for our customers....
In the traditional world of finance, there are a handful of major players when it comes to credit and debit cards. Visa and MasterCard are the two biggest brands, but American Express is trying to make a comeback as well. Unfortunately for AmEx, a recent announcement by Fidelity Investments sees the company losing ground in favor of Visa and Bancorp. Unlike these financial services, Bitcoin is not suffering from fractured support, as there is only one currency in play that works for everyone in the world. American Express Loses Ground in Plastic Card Sector. Keeping oneself relevant in the....