The Visa boss has spoken positively about crypto platforms and their integration into the Visa card payment system.
Crypto Integration
Cuy Sheffield, the Head of Crypto at Visa, has confirmed that the world’s largest payment processor has integrated its services with 60 crypto platforms including FTX, BlockFi, Crypto.com, Coinbase, and Binance. These integrations come in the form of crypto-linked debit cards that make it easy for crypto holders to convert their crypto into fiat and pay for everyday goods.
The confirmation of the total number of partnerships came during an interview with NDTV on Monday. Sheffield explained what those collaborations mean for Visa.
“At the end of the day, we want to serve as a bridge connecting the crypto ecosystem with our global network of 80 million merchant locations and more than 15,000 financial institutions,” he said.
Besides offering a pathway from crypto to fiat, Sheffield went on to elaborate on the potential future direction for Visa and cryptocurrency.
“We’ve built a lot of momentum in this space, and we’ll continue to support the crypto ecosystem in several ways – by making it simple for consumers to use Visa for purchasing or cashing-out their digital currencies; bringing new infrastructure capabilities and crypto value-added services to our clients and partners; advancing original research and collaboration on future CBDC use cases, and supporting the emerging NFT economy.”
As Sheffield himself points out, Visa’s collaboration with crypto platforms has doubled over the past 18 months. Now the company is examining ways in which it can go further, perhaps even by integrating NFTs into the fold. It’s an area that the payment processor is ‘tracking closely’.
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