Resource: News.bitcoin.com
2 years ago
Date: 30 Jan 2022 - 05:00

Visa has now partnered with more than 65 crypto platforms and exchanges. In addition the payments giant revealed that cryptolinked card usage exceeded 2.5 billion in the first fiscal quarter which is already 70 of the payments volume for all of fiscal 2021.Visa Outlines Crypto Strategy and AchievementsVisa Inc. discussed its crypto strategy and achievements during the companys earnings call Thursday. Visa CEO Al Kelly said Many current trends in payments including x2026 crypto and wallets are enabling new ways to pay. These represent opportunities for Visa.Regarding his companys efforts in the crypto space the executive highlightedWere also providing onramps for crypto players creating connectivity with fiat economies. There are over 65 crypto platforms and exchanges that have partnered to issue Visa credentials.Recently Bitcoin.com News reported that consumers will be able to spend cryptocurrency at 80 million merchants using cryptolinked Visa cards. However CEO Kelly said during the call that the actual number is closer to 100 merchants.The Visa boss also revealed This quarter Visa credentials and crypto wallets had more than 2.5 billion in payments volume which is already 70 of the payments volume for all of fiscal 2021.In July Visa said that cryptolinked card usage reached 1 billion for the first six months of 2021.Furthermore the Visa CEO detailed In addition to embedding credentials and crypto platforms we continue to innovate around our settlement and crypto API capabilities elaboratingWe will continue to lean into the crypto space. And our strategy is to be a key partner to provide the connectivity scale consumer value propositions reliability and security that is needed for crypto offerings to grow.Kelly also mentioned his companys recently launched specialized global advisory practice for cryptocurrency. Meanwhile Visa currently has no plans to hold crypto on its balance sheet.Visa CFO Vasant Prabhu told CNBC in an interview FridayWeve seen this payment volume continue to grow despite volatility in the crypto markets.What do you think about Visas efforts in the crypto space Let us know in the comments section below.

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