Visa partners with over 50 cryptocurrency companies to secure payments in cryptoassets. For the first half of the year, payments for more than $ 1 billion were processed on Visa cryptocurrency cards.
According to the latest Visa report, the global payments giant plans to continue supporting the development and distribution of cryptocurrencies within its business.
Visa has partnered with 50 major companies in the cryptocurrency industry, as well as projects to issue cryptocurrency cards, which give holders the ability to convert and spend cryptoassets with 70 million merchants around the world. Given the volume of payments made with cryptocurrency cards, “it is clear that the cryptocurrency community sees value in linking cryptocurrencies to the global Visa network.”
According to the statement, Visa’s support for cryptocurrencies does not require global merchants to accept them directly. Visa works with major cryptocurrency firms like Crypto.com, FTX, Coinbase, CoinZoom and others. In addition, according to Visa, pegged to the value of other assets or fiat currencies, cryptocurrencies “are beginning to live up to the promise of digital fiat money.”
“Stablecoins are on track to become an important part of the broader digital transformation of financial services, and Visa is delighted to help shape and support this development. We place great emphasis on connecting the cryptocurrency economy to our ‘network of networks’ – a strategy designed to add value to all forms of money movement, whether on or off the Visa network. ”
As a reminder, in April, Visa CEO Al Kelly revealed that the firm is actively interested in the cryptocurrency industry and is working on at least five initiatives in this area.
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