Visa Has Over 60 Partnerships With Crypto Platforms, Says Crypto Chief

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Credit card and financial services giant Visa has partnered with more than 60 crypto platforms to enable consumers to make payments with digital assets.

Speaking in an interview with NDTV, Visa chief crypto Cuy Sheffield said the financial services firm has doubled down on its crypto partners over the past 18 months to promote the scale and reach of his project. He claimed that the number of Visa employees working in crypto to some extent now numbered in the hundreds (up from a handful previously).

As reported by The Daily Hodl, Sheffield said:

Over the past few years, we’ve also seen our clients’ perspectives on crypto evolve, from skepticism to awareness, to understand that crypto will likely impact their existing businesses in one way or another. .

Visa has partnered with over 60 crypto platforms to date, including giants such as FTX, BlockFi, Crypto.com, Coinbase, and Binance. Partnerships allow customers to use their digital assets to pay for goods and services with encrypted cards.

Sheffield explained the benefits:

Crypto-linked cards make it easy for consumers to convert and spend digital currencies, without coffee shops, dry cleaners, or grocery stores accepting crypto directly at the checkout.

A user’s crypto is converted to fiat instantly and “behind the scenes”, creating what is essentially a standard Visa transaction. Sheffield claimed that Visa has already processed $ 3.5 billion worth of crypto transactions, pointing out how much it has grown in about a year since its inception.

The Visa executive said the company is working to serve as a bridge connecting the crypto industry to its global network of 80 million merchants and 15,000 financial institutions.

Warning

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptoassets carries the risk of financial loss.

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