Visa Partners With 60 Crypto Platforms to allow Crypto Payments at ~80 Million Merchants

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Key Takeaways:

  • Visa Partners With 60 Crypto Platforms to launch card programs that make it easy for consumers to convert and spend digital currency at 80 million merchant locations worldwide.
  • Visa has partnered with more than 60 leading crypto platforms, like FTX, Blockfi, Crypto.com, Coinbase, and Binance.
Visa Partners With 60 Crypto Platforms: Consumers Can Now Spend Digital Currency At 80 Million Merchants
Visa Partners With 60 Crypto Platforms: Consumers can now Spend Digital Currency at 80 Million Merchants

Visa’s head of crypto revealed that the payments giant has teamed up with about 60 leading crypto platforms to launch card programs that make it easy for consumers to convert and spend digital currency at 80 million merchant locations worldwide. He emphasized that we’ve built a lot of momentum in this space, and we’ll continue to support the crypto ecosystem in several ways.

In an interview with NDTV published on Monday, Cuy Sheffield, Visa’s head of crypto, discussed the payments giant’s digital asset efforts. He started by saying, 

“At Visa, the scale and scope of our work in crypto has grown dramatically. The number of people cross-functionally at Visa working on crypto in some capacity is now in the hundreds, up from just a handful of employees. And we’ve more than doubled our number of partnerships with crypto platforms in the last 18 months, up to 60 partnerships today.”

He further elaborated it by saying, 

“We’ve partnered with more than 60 of the leading crypto platforms, like FTX, Blockfi, Crypto.com, Coinbase, and Binance, to launch card programs that make it easy for consumers to convert and spend digital currency at 80 million merchant locations worldwide.”

He continued by saying,

“Crypto-linked cards make it easy for consumers to convert and spend digital currencies, without requiring coffee shops, dry cleaners, or grocery stores to directly accept crypto at the checkout. All the conversions from crypto to fiat happen instantly, behind the scenes. In-store, online, it’s as easy as a standard Visa transaction.”

When asked if Visa plans to launch a crypto consulting service in India, the executive said no. However, early in December, the company announced the launch of its crypto advisory services.

 He replied by saying that “Visa aims to provide our crypto advisory services to clients globally wherever there is interest, and currently, we offer services in markets where the regulations permit such transactions.”

According to Visa head crypto, “At the end of the day, we want to serve as a bridge connecting the crypto ecosystem with our global network of 80 million merchant locations and more than 15,000 financial institutions.”

 He concluded by saying, “We’ve built a lot of momentum in this space, and we’ll continue to support the crypto ecosystem in several ways.”

Chaahat Girdhar
Chaahat Girdhar

I'm Chaahat Girdhar, a journalist by profession who's turning her dreams into vision and vision into reality. I'm curious and have an appetite for gaining new knowledge. So I'm looking forward to learning things in the better way possible.

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