Visa partnership with 60 crypto platforms of the world, it will be easy to spend digital currency


Digital payment service provider Visa has partnered with 60 leading crypto platforms to launch the card program. This will make it easier for consumers to convert and spend the digital currency at the 80 million Visa locations worldwide. Visa ‘Q Sheffield’, Head of Crypto at Visa, emphasized in an interview that Visa has created a lot of momentum in the crypto space and will continue to support the crypto ecosystem in more ways than card-based services.

According to Sheffield, Visa’s crypto activity has expanded significantly. There are currently hundreds of people working on crypto in various Visa departments, compared to just a handful a few years ago.

Sheffield says that Visa has increased its contracts with the crypto platform by four times in the past 18 months. This number has now gone up to 60. These crypto companies include FTX, BlockFi, Crypto.com, Coinbase and Binance.

In order to better understand how much people trust cryptocurrencies, Visa also conducted a global survey to know consumer views. The data revealed that people everywhere knew about crypto. Nearly a third of the survey participants used crypto as a financial instrument or medium of exchange.

according to sheffield, Visa expects non-fungible tokens or NFTs to play a key role in retail, social media, entertainment and commerce in the times to come. Merchants, brands and content platforms have shown great interest in the NFT-commerce ecosystem.

Sheffield explained that Visa aims to create a bridge for the crypto network through its 80 million merchant locations worldwide.

Recently, Visa has also launched a global crypto advisory service for banks and merchants. Under this service, Visa will educate its clients i.e. institutions about cryptocurrencies. Clients will be able to use Visa’s payment processor network to provide offers related to digital currency. Not only this, Visa will also help in managing the backend operations.

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