Visa has announced that it is working with more than 50 cryptocurrency companies, including FTX and Coinbase, to enable its customers to spend and convert digital currencies on
The partnership will make it easier for customers to convert and spend digital currencies with 70 million merchants worldwide, even those who do not accept digital devices.
” Merchants don’t have to change anything. It will be the same for them as any other Visa transaction. But in the backend, cryptographic assets are immediately converted to fiat, ”said Cuy Sheffield, Visa’s head of cryptocurrency at Inside.
(A professional currency refers to fiat money issued by gold-backed currencies issued by central banks, ie the forint, the euro or the dollar are also fiat money.)
” , trade in cryptocurrency, cryptov they hold aluts and there are millions of merchants who don’t really understand cryptography. They don’t want to update their outlets and terminals, and they don’t want to figure out what the blockchain is, “said Cuy Sheffield.
users can spend a young person and get cryptocurrencies as a reward, similar to how users can collect cash refunds, flight miles or hotel points.
Sheffield also said that since more than $ 1 billion in the first half of 2021, spent on cryptographic Visa cards, optimistic that even more could be released
The payment company announced on March 29 that it would allow the use of USD Coin to clear payment transactions on its platform Visa has used the payment option on an experimental basis through the Crypto.com payment platform and the Anchorage digital asset bank.
“We need to be able to support digital fiat currency as well as to convert between the digital version and the traditional version of the fiat currency, “Sheffield said.
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