The head of Visa’s crypto division has disclosed that Visa has partnered with around 60 top crypto platforms to launch card programs that allow consumers to convert and use digital currency at 80million merchant locations worldwide.
Visa commits to growing the crypto ecosystem
Cuy Sheffield, Visa’s Head of Crypto, spoke about the payments giant’s efforts to digitally asset in a Monday interview with NDTV.
He began, “At Visa the scale and extent of our work on crypto has increased dramatically.” “The number cross-functionally employed people at Visa who are working in crypto is now in the hundreds, up from a few employees. Sheffield explained:
We have partnered with more than 60 leading crypto platforms like FTX and Blockfi to launch card programs that allow consumers to convert and use digital currency at 80 millions of merchant locations around the world.
He said that crypto-linked cards allow consumers to convert and use digital currencies without the need for coffee shops, dry cleaners or grocery stores to accept crypto at the check out. Behind the scenes, all conversions from crypto currency to fiat occur instantly. It’s as simple as a Visa transaction, in-store or online.
When asked by the executive if Visa plans to launch a cryptocurrency consulting service in India, he replied that he did. The company announced that its crypto advisory services would be available in December.
He replied, “Visa seeks to provide our crypto advisory service to clients worldwide wherever there is interest and at the moment, we offer services only in markets that permit such transactions.”
The head of crypto at Visa stated:
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 that “We have built a lot momentum in this space and we’ll continue supporting the crypto ecosystem in many ways.”
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Kevin, a student of Austrian Economics and evangelist since then. His interests include Bitcoin security, open source systems, network effects, and the intersection of cryptography and economics.
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