Visa could add cryptocurrencies to its payments network

Al Kelly, P.-D.G. of Visa is considering adding Bitcoin (BTC) and other cryptocurrencies to its payment network.

In December 2020, the payment giant teamed up with Circle to add the USDCoin (USDC) stablecoin to its network.

Visa would be more crypto-friendly

Visa would be more crypto-friendly

Al Kelly, P.-D.G. According to Visa, the company could support some cryptocurrencies directly.

The American company is already active in the industry through several partnerships with stock exchanges or wallet providers. The companies BlockFi, Crypto.com and Swipe already offer crypto cards with the Visa brand. However, these « crypto cards » work thanks to an automatic conversion of funds in crypto currencies into dollars / euros.

Thus the P.-D.G. Visa seems to want to take the next step by adding cryptocurrencies directly to the Visa network as a payment method.

Visa also said that stablecoins can be used for « global trade » and that cryptocurrencies running on public blockchains can be viewed as networks in their own right. Al Kelly: “As a certain cryptocurrency becomes a recognized medium of exchange, there is no reason why we cannot add it to our network, which already supports more than 160 currencies. «  »

A partnership with Circle

A partnership with Circle

Visa company has been in the cryptocurrency payments space for several years, either through partnerships or by funding companies in the crypto blockchain sector.

In December 2020, the payment giant teamed up with Circle, one of the companies behind USDCoin (USDC) stablecoin. The goal is

Enable card issuers to easily integrate sending and receiving payments in USDC.

Latest news

Latest news

Circle spokesman Josh Hawkins said USDC’s deployment on the Visa network is expected to take place in 2021.

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Visa could add cryptocurrencies to its payments network
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