Visa’s crypto chief revealed that the payments giant has partnered with around 60 major crypto platforms “to launch card programs that allow consumers to easily convert and spend digital currency in 80 million dollars. traders in the world ”. He stressed, “We have built a lot of momentum in this space, and we will continue to support the crypto ecosystem in a number of ways.”
Visa is committed to developing the crypto ecosystem
Cuy Sheffield, head of crypto at Visa, spoke about the payments giant’s digital asset efforts in an interview with NDTV, published on Monday.
“At Visa, the scale and scope of our crypto work has grown dramatically,” he began. “The number of cross-functional people at Visa working on crypto to some extent now number in the hundreds, compared to a handful of employees. And we’ve more than doubled our number of partnerships with crypto platforms over the past 18 months – up to 60 partnerships today. Sheffield elaborated:
We have partnered with over 60 of the major crypto platforms, such as FTX, Blockfi, Crypto.com, Coinbase, and Binance, to launch card programs that allow consumers to easily convert and spend digital currencies up to 80 million. of points of sale in the world. .
“Crypto-linked cards allow consumers to easily convert and spend digital currencies, without coffee shops, dry cleaners or grocery stores accepting crypto directly at the checkout,” he continued. “All crypto to fiat conversions happen instantly, behind the scenes. In store, online, it’s as easy as a standard Visa transaction.
The executive was asked if Visa plans to launch a crypto advisory service in India. The company announced the launch of its crypto consulting services in early December.
“Visa aims to provide our crypto advisory services to customers around the world wherever there is interest, and currently we offer services in markets where regulations allow such transactions,” he replied.
Visa’s crypto chief gave his opinion:
Ultimately, we want to serve as a bridge connecting the crypto ecosystem to our global network of 80 million merchant sites and over 15,000 financial institutions.
“We have built a lot of momentum in this space, and we will continue to support the crypto ecosystem in a number of ways,” he concluded.
What do you think of Visa’s crypto efforts? Let us know in the comments section below.
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