Visa chairman and CEO, Al Kelly, pointed out that Visa will add cryptocurrencies to its payment network. Currently, Visa is supporting over 160 currencies. In addition, the payment giant is intended to expand its network and create wider options for its users. In line with Wallebi’s cryptocurrency news , Visa will add cryptos to its network.
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Good news for cryptocurrencies
Kelly described cryptocurrencies such as Bitcoin as “digital gold”. In fact, he believes that firms still did not use the cryptocurrencies potential, especially for payment networks.
Basically, Visa aimed to revolutionize cryptocurrencies in order to become safer, more useful and applicable to use in payment systems. Visa is going to benefit from popularity of its brand in order to collaborate with others.
Kelly explained the strategy of the company. Actually, Visa strategy is to partnership with wallets and exchanges in order to enable the users to buy or sell cryptocurrencies using Visa.
What are the Visa plans for crypto payments?
The CEO of Visa divides digital assets into two categories. Cryptocurrencies, which are highly volatile such as Bitcoin, and stablecoins. In fact, stablecoins are kind of blockchain assets, which are backed by fiat currencies and could be used for global commerce the same as other fiat money.
It has been a while that Visa is persistent in order to add crypto payments. In this way, they formed collaboration to enable crypto debit cards as well as supporting investing in Zap (a crypto payment startup).
Kelly stated that Visa is ready to accept and take advantage of new-born cryptocurrencies. The reason is that the company already made the relationship with over 35 major crypto wallets and platforms. For instance, the company has partnership with Fold, BitPanda, BlockFi and Crypto.com. All the mentioned companies are collaborating with Visa in order to issue crypto payments.
Visa Will Add Cryptos To Its Network; Visa is going to be the pioneer
Although many financial institutions are in doubt about cryptos, Visa is accepting this new technology and form of currency. In fact, Visa is doing the best to fascinate as much as transactions.