Visa has more than 60 partnerships with cryptocurrency companies

Such collaborations will simplify the use of digital assets to pay for goods and services

30.12.2021 - 11:30

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What’s new? Visa's head of crypto, Cuy Sheffield, gave an interview to NDTV in which he said that the company has doubled the number of its digital asset partners in the past 18 months. Visa now partners with more than 60 cryptocurrency platforms, including giants such as FTX, BlockFi, Crypto.com, Coinbase, and Binance.

NDTV Material

What advantages of Visa did Sheffield talk about? The cryptocurrency cards allow users to make any purchases and transactions quickly. During the payment, the cryptocurrency is “behind the scenes” converted into fiat money, essentially creating a standard transaction. Sheffield stressed that the company “serves as a bridge” connecting the cryptocurrency industry to its global network.

What else did the Visa representative say? Sheffield claimed that the number of the company’s employees working on cryptocurrency is now in the hundreds, instead of the one small department it used to be.

“Over the last few years, we have also seen our clients' outlook on crypto evolve, from skepticism to awareness, to an understanding that crypto will likely impact their existing business in some way.”

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