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Payments Giant Visa says it partners with 60 crypto platforms so that consumers can spend digital assets: report

Credit card giant Visa is reportedly partnering with a growing number of crypto platforms as consumers accept payments with digital assets.
Cuy Sheffield, head of Visa’s crypto division, told NDTV in an interview that the world’s largest payment processor has more than doubled the number of its crypto partners in the past 18 months.

“At Visa, the scope and scope of our crypto work has grown dramatically. The number of people working on crypto in any capacity across the board at Visa is now in the hundreds – compared to a handful of employees …

In the past few years we’ve also seen our customers’ views on crypto evolve, from skepticism to awareness to an understanding that crypto is likely to affect their existing business in some way. “

To date, Visa has partnered with over 60 crypto platforms, including industry giants FTX, BlockFi, Crypto.com, Coinbase, and Binance, that enable consumers to convert and use digital assets to easily pay for goods and services.

“Crypto-linked cards make it easy for consumers to exchange and spend digital currencies without cafes, dry cleaners or grocery stores having to accept crypto directly at the checkout.

All crypto to fiat conversions are instant behind the scenes. In-store or online, it’s as easy as a normal Visa transaction.

Consumers who want to use crypto have the option to exchange and spend their digital currency while going about their daily activities. “

Visa has already processed $ 3.5 billion worth of crypto transactions, according to Sheffield, even though the emerging crypto card program is still so new.

“That’s only a small fraction of the total spend on Visa cards, but when you consider that these programs didn’t make sense a year ago, it’s a sign that they are growing in importance.

Ultimately, we want to serve as a bridge that connects the crypto ecosystem with our global network of 80 million merchant locations and more than 15,000 financial institutions. “
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Source: Crypto News Deutsch

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