Visa Partners With Over 65 Crypto Platforms — Crypto-Linked Card Usage Soars Despite Price Volatility

https://motleybloggers.com/wp-content/uploads/2022/01/visa-partners-with-over-65-crypto-platforms-crypto-linked-card-usage-soars-despite-price-volatility.jpg

Visa Partners With Over 65 Crypto Platforms — Crypto-Linked Card Usage Soars Despite Price Volatility

Visa has now partnered with more than 65 crypto platforms and exchanges. In addition, the payments giant revealed that crypto-linked card usage exceeded $2.5 billion in the first fiscal quarter, “which is already 70% of the payments volume for all of fiscal 2021.”

Visa Outlines Crypto Strategy and Achievements

Visa Inc. discussed its crypto strategy and achievements during the company’s earnings call Thursday. Visa CEO Al Kelly said: “Many current trends in payments, including … crypto, and wallets, are enabling new ways to pay. These represent opportunities for Visa.”

Regarding his company’s efforts in the crypto space, the executive highlighted:

We’re also providing on-ramps for crypto players creating connectivity with fiat economies. There are over 65 crypto platforms and exchanges that have partnered to issue Visa credentials.

Recently, MotleyBloggers.com News reported that consumers will be able to spend cryptocurrency at 80 million merchants using crypto-linked Visa cards. However, CEO Kelly said during the call that the actual number is “closer to 100 merchants.”

The Visa boss also revealed: “This quarter, Visa credentials and crypto wallets had more than $2.5 billion in payments volume, which is already 70% of the payments volume for all of fiscal 2021.”

In July, Visa said that crypto-linked card usage reached $1 billion for the first six months of 2021.

Furthermore, the Visa CEO detailed: “In addition to embedding credentials and crypto platforms, we continue to innovate around our settlement and crypto API capabilities,” elaborating:

We will continue to lean into the crypto space. And our strategy is to be a key partner to provide the connectivity, scale, consumer value propositions, reliability, and security that is needed for crypto offerings to grow.

Kelly also mentioned his company’s recently launched “specialized global advisory practice” for cryptocurrency. Meanwhile, Visa currently has no plans to hold crypto on its balance sheet.

Visa CFO Vasant Prabhu told CNBC in an interview Friday:

We’ve seen this payment volume continue to grow despite volatility in the crypto markets.

What do you think about Visa’s efforts in the crypto space? Let us know in the comments section below.

Origina post from
https://motleybloggers.com/visa-partners-with-over-65-crypto-platforms-crypto-linked-card-usage-soars-despite-price-volatility/

Comments

P2P Bitcoin Traders in Nigeria Think Outside the Box in the Wake of CBN Restrictions

After the Central Bank of Nigeria issued a directive targeting the country’s cryptocurrency industry, bitcoin and altcoin trade volumes on centralized exchanges immediately plunged. Nevertheless, the new regulations seem to have succeeded in boosting crypto trade volumes on informal markets or on peer-to-peer trading platforms. Nigerian Crypto Traders Get Creative Still, the increasing trades on informal platforms have also led to increased reports of users losing money to con artists. Moreover, with the CBN seemingly eager to see volumes of crypto trades plummet, Nigerian users had to find ingenious but legal ways of getting around the central bank’s imposed restrictions. As shown in one local report , one such legal way is through an app created by one local crypto start-up, Patricia. According to the report, this application is already enabling Nigerian users to buy or sell their crypto assets securely and without running afoul of CBN regulations. Therefore, in this repor...

A Jacobin Podcast Review: Critiques on Crypto and Sterlin’s Response

https://motleybloggers.com/wp-content/uploads/2022/01/a-jacobin-podcast-review-critiques-on-crypto-and-sterlins-response.jpg The following opinion editorial is a Jacobin Podcast review written by the author Sterlin Lujan , the chief risk officer with Cryptospace. The Jacobin Podcast episode called: “ Dig: Cryptocurrency w/ Edward Ongweso Jr & Jacob Silverman, ” touches upon “cryptocurrency, NFTs, Elon Musk, the metaverse, meme stocks, and techno-utopianism amid the crushing reality of our neoliberal hellscape.” Cryptocurrency isn’t fringe technology anymore. Over the last decade, it has become embedded into finance, culture, and even our social life. It’s drastically changing the way we think about money, economics, and human action. However, some people, primarily on the left, are skeptical of cryptocurrency. Many of them hate it, regardless of how much of a godsend it has been for many. My friend, thought leader, author, and psychedelic visionar...

Bitcoin, Ethereum Technical Analysis: ETH Back Under $2,000 as Balenciaga Gains Lose Steam

https://motleybloggers.com/wp-content/uploads/2022/05/bitcoin-ethereum-technical-analysis-eth-back-under-2000-as-balenciaga-gains-lose-steam.jpg Following strong gains to start the week, BTC once again fell under $30,000, as crypto prices moved lower on Tuesday. The downturn follows up from yesterday’s rally, which came as Balenciaga announced it would be accepting crypto payments. ETH also dropped, falling under $2,000 today. Bitcoin Bitcoin fell under $30,000 on Tuesday, as bears returned to action following a green start to the week. Following a high of $30,547.50 during Monday’s session, BTC /USD fell to an intraday low of $28,975.56 earlier today. Today’s drop saw BTC fall by over 5% in the day, as bullish sentiment following the Balenciaga crypto announcement faded. BTC /USD – Daily Chart Since then, bears have now pushed prices closer to support at $28,800, which is an area where BTC has resided over the past few weeks. Looking at the chart, the 14-da...

motleybloggers

Search This Blog