Visa’s head of crypto has revealed that the payments giant has partnered with about 60 leading crypto platforms “to launch card programs that make it easy for consumers to convert and spend digital currency at 80 million merchant locations worldwide.” He emphasized, “We’ve built a lot of momentum in this space, and we’ll continue to support the crypto ecosystem in several ways.”
Visa is committed to developing the crypto ecosystem
Cuy Sheffield, head of crypto at Visa, spoke about the payments giant’s digital asset efforts in an interview with NDTV, published on Monday.
“At Visa, the scale and scope of our work in crypto has grown dramatically,” he began. “The number of people cross-functionally at Visa working on crypto in some capacity is now in the hundreds — up from just a handful of employees. And we’ve more than doubled our number of partnerships with crypto platforms in the last 18 months — up to 60 partnerships today.” Sheffield elaborated:
We have partnered with over 60 of the major crypto platforms, such as FTX, Blockfi, Crypto.com, Coinbase, and Binance, to launch card programs that allow consumers to easily convert and spend digital currencies up to 80 million. of points of sale in the world.
“Crypto-linked cards make it easy for consumers to convert and spend digital currencies, without requiring coffee shops, dry cleaners, or grocery stores to directly accept crypto at the checkout,” he continued. “All the conversions from crypto to fiat happen instantly, behind the scenes. In-store, online, it’s as easy as a standard Visa transaction.”
The executive was asked if Visa plans to launch a crypto advisory service in India. The company announced the launch of its crypto consulting services in early December.
“Visa aims to provide our crypto advisory services to clients globally wherever there is interest, and currently, we offer services in markets where the regulations permit such transactions,” he replied.
Visa’s crypto chief gave his opinion:
Ultimately, we want to serve as a bridge connecting the crypto ecosystem to our global network of 80 million merchant sites and over 15,000 financial institutions.
“We’ve built a lot of momentum in this space, and we’ll continue to support the crypto ecosystem in several ways,” he concluded.
