Visa’s Head of Crypto said the company has over 60 partnerships with cryptocurrency platforms
The colossus of credit cards and financial services Visa has collaborated with over 60 cryptocurrency platforms to enable users to pay using digital assets.
Cuy Sheffield, Visa’s director of crypto, told NDTV that the financial services corporation has increased its crypto partners over the previous 18 months in order to promote the project’s reach and scope. He said that the number of Visa personnel working on cryptocurrency in some capacity has risen to the hundreds (up from a handful previously).
Sheffield said, as published by The Daily Hodl: We’ve also witnessed our customers’ attitudes on crypto grow over the previous several years, from scepticism to awareness, to an acceptance that crypto will almost certainly touch their present company in some manner.
Visa has worked with over 60 cryptocurrency exchanges and wallets to far, including industry titans like as FTX, BlockFi, Crypto.com, Coinbase, and Binance. The collaborations enable users to pay for products and services using crypto-linked cards using their digital assets.
Sheffield outlined the advantages: Consumers may easily convert and spend digital currencies using crypto-linked cards, without needing coffee shops, dry cleaners, or grocery stores to accept crypto directly at the checkout.
Instantaneous and “behind the scenes” conversion of a user’s crypto to fiat results in what is basically a typical Visa transaction. Sheffield said that Visa has already handled $3.5 billion in cryptocurrency transactions, demonstrating the company’s rapid growth in the approximately a year since its start.
Visa’s CEO said that the firm is attempting to act as a bridge between the cryptocurrency sector and their worldwide network of 80 million merchants and 15,000 financial institutions.