Visa partners with 60 cryptocurrency platforms to allow consumers to spend cryptocurrencies at 80 million stores
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The head of the cryptocurrency division at the leading payments company Visa revealed that it has partnered with about 60 leading digital currency platforms “to launch card programs that make it easier for consumers to transfer and spend digital currency at 80 million merchant locations around the world.” “We have built a lot of details to launch this topic, and we will continue to support the integrated cryptocurrency ecosystem in many ways,” he emphasized. Visa committed to growing digital currency ecosystem Coy Sheffield, Visa's head of digital currencies, spoke about the payments giant's digital asset efforts in an interview with NDTV, published on Monday. “At Visa, the size and scope of our cryptocurrency business has grown significantly,” he began.
“The number of cross-functional people at Visa working to develop a highly capable cryptocurrency system now numbers in the hundreds – from just a handful of employees. And we have doubled the number of our partnerships with crypto platforms in the past 18 months – up to 60 partnerships today.” Sheffield explained: We have partnered with more than 60 leading crypto platforms, such as FTX, Blockfi, Crypto.com, Coinbase and Binance, to launch card programs that make it easier for consumers to transfer and spend digital currencies at 80 million merchant locations around the world.
“Crypto-linked cards make it easier for consumers to convert and spend crypto, without requiring coffee shops, dry cleaners or grocery stores to directly accept cryptocurrency at checkout,” he continued. “All conversions from crypto to fiat currencies happen instantly, behind the scenes. In-store, online, it's as easy as a standard Visa transaction.”
The executive was asked if Visa was planning to launch a cryptocurrency advisory service in India. The company announced the launch of its cryptocurrency advisory services in early December. He replied: “Visa aims to offer its cryptocurrency advisory services globally wherever there is interest, and we currently provide services in markets where regulations allow such transactions.”
The head of digital currencies at Visa continued: We simply want to serve as a bridge that connects the integrated cryptocurrency ecosystem to our global network, which includes 80 million merchant sites and more than 15,000 financial institutions. He concluded by saying: “We have built a lot of details to launch this topic, and we will continue to support the integrated cryptocurrency ecosystem in many ways.” Source
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