The payment giant Visa believes in crypto and even more – the company is working on ways to support the purchase of Bitcoin using Visa credentials.

The news was announced by the CEO Al Kelly during Fortune’s Leadership Next podcast.

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“We’re trying to do two things; one is enable the purchase of Bitcoin on Visa credentials, and then secondly working with some Bitcoin wallets to allow the Bitcoin to be translated into a fiat currency” Kelly explained.

In addition to the statement the CEO added that Visa will allow instant transfer from fiat to Bitcoin. The opportunity would enable around 70 million merchants around the world to accept BTC as a payment method.

Visa works with around 35 “players” in the digital currency world – some of them are BlockFi, Fold, and Crypto.com.

The announcement is not the first positive talk for the crypto industry. During Q1 2021 Kelly said that the company is: “uniquely positioned to help make cryptocurrencies more safe, useful and applicable for payments”.

The CEO said that the people should differentiate Bitcoin from other altcoins and to find the difference between stablecoins and the central bank digital currencies (CBDC). They are all digital assets but with different characteristics. 

Author: Militsa Dimitrova

 

 

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