Visa advance crypto approach to back new form of commerce
Cryptocurrency has since its development has continued to gain traction until now and continued to do so. Global payment firm Visa is the most recent to show support for cryptos revealing its views and aspirations for crypto coins.
Visa published a blog post recently stating that they are ready to deliver value to people, businesses, and economies regardless of the currency, form, or channel. In this regard, the firm talked about cryptos and highlighted the role of the digital asset in their projects.
In the blog post, they revealed that they want to help shape and support the role cryptocurrencies play in the future of money.
Visa provides crypto services through Coinbase
The payment giants already began delving into the crypto world, working alongside exchange firms like Coinbase andFold. These exchange firms help them bridge digital currencies solutions with existing merchants.
Visa in the blog post also revealed that over 25 crypto wallets had linked their services to the payment firm, giving users an easy way to spend their crypto-asset using a debit or prepaid credentials anywhere in the world.
Visa-Direct is another crypto-related product of the firm. It is an instant fiat-to-crypto bridge that converts consumers’ digital currencies. Services like these according to Visa, make the brand optimal for adoption by digital currency wallets.
Stablecoin, backbone for future economy
Visa, in the blog post, explained that a lot about the future economy depends on stablecoins, which are fiat-backed digital currencies. Stablecoins, according to them, are emerging payment innovation, which adds benefits of digital currencies and stability of fiat like US dollars, Euro.
The payment giant in their strategy for crypto rollouts in the public sector would agree with lawmakers and regulatory organizations to expose firms to the benefits of digital currencies, including Central Bank Digital Currencies (CBDC).
It is worth mentioning that Visa was also part of the Libra Association developing the Facebook backed Libra stablecoin. However, they quit the association amidst controversies and regulatory scrutiny the project faced globally.
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