Visa card, the American payment card network processor has restated its long-term interest in digital currencies. This was seen in a blog post on the Company’s official website, titled “Advancing our approach to digital currency.” As the heading insinuates, the payment service firm is taking the necessary steps to solidify it’s in digital currencies to the next level.
Visa acknowledges that its competitors are adopting Cryptocurrencies
In the first paragraph, Visa explains that by and large, its universal goal is to create an unmatched value that serves all of its customers. “Regardless of currency, channel or form factor” is another statement that followed. This illustrates that the payment giant is welcoming of different forms of currencies, including virtual currencies of all kinds.
The blog post goes on to say that the company’s future partnerships are aimed at the diversification and remodeling of money usage around the globe. Visa added that digital currencies are important for the successful expansion of the company’s services. Thus, giving it a significant spot as a necessary technology for the company.
Visa Hints at an Upcoming Project
Visa also recognized the increasing rate at which financial institutions and central banks are adopting stablecoins, owing to its ability to bridge the gap between digital currencies and already existing Fiat currencies.
With how exploratory Visa is showing itself to be, the payment firm just might onboard the likes of Tether USDT and other similar Stablecoins. But this project is not as certain as to its collaboration with Coinbase. Recall that Visa officially granted its principal membership to Coinbase exchange, allowing it to issue debit cards that let users spend their Bitcoin, XRP, and Ether in all accepted Visa payment points.
“Visa has been working closely with licensed and regulated digital currency platforms like Coinbase and Fold to provide a bridge between digital currencies and our existing global network of 61 million merchants. Around the world, more than 25 digital currency wallets have linked their services to Visa, giving users an easy way to spend from their digital currency balance using a Visa debit or prepaid credential — anywhere Visa is accepted.” – Visa.
There’s no doubt that the partnership will cause the integration of more Digital currencies or more Digital currency features on the platform in the nearest future.
Global adoption for digital currencies in the Fintech industry is already in motion. Many other payment giants are on the journey of integrating digital currencies into their firms. One such, as covered previously is PayPal. If these leading payment giants continue to embrace digital currencies, it won’t be long before global regulatory guidelines become less extreme and adoption, in turn, could go off the roof.