Visa plans collaboration with 50 crypto companies16. July 2021
Visa plans collaboration with 50 crypto companies
Visa will work with more than 50 cryptocurrency companies to help users transact crypto with Visa cards.
Visa began offering its users the ability to pay with crypto in early 2021 and reported over $1 billion in crypto purchases in the first half of 2021.
Visa currently has 50 active partnerships with crypto companies, an increase from 35 four months ago. Visa has partnerships with popular crypto exchanges Coinbase, Binance and BlockFi.
FTX, the crypto exchange founded by 29-year-old crypto billionaire Sam Bankman-Fried, is the latest company to partner with Visa. According to Visa’s head of cryptocurrency, the company’s 70 million merchants worldwide “won’t have to change anything…. it will be the same for them as any other Visa transaction.”
In March, Visa began offering transaction settlements through Circle’s USD stableco.
Despite expanding their crypto operations, Visa maintains that they will only keep currencies that they “pay people in” on their balances.