Source: Bitcoinist
Financial services giant Visa has collaborated with over 60 crypto platforms to enable customers to pay in digital assets.
Cuy Sheffield, Head of Crypto at Visa, said in an interview that the company has magnified its crypto collaborators for the last 18 months to boost the scale and scope of its programs.
Sheffield claimed that a huge number of employees have worked on crypto, indicating that the capacity has reached hundreds.
“Over the last few years, we’ve also seen our clients’ outlook on crypto evolve, from skepticism to awareness, to an understanding that crypto will likely impact their existing business in some way,” Sheffield remarked.
Behemoths FTX, BlockFi, Crypto.com, Coinbase, and Binance are among those 60 crypto platforms in partnership with Visa. These collaborations enable customers with crypto-linked cards to utilize their digital assets to pay for goods and services.
“Crypto-linked cards make it easy for consumers to convert and spend digital currencies, without requiring coffee shops, dry cleaners, or grocery stores to directly accept crypto at the checkout,” Sheffield explained when asked about the benefits.
Sheffield has affirmed that Visa thus far had operated crypto transactions worth $3.5 billion, emphasizing its considerable growth in a year since its emergence. A user’s crypto is modified to fiat immediately and “behind the scenes,” generating what is a standard Visa transaction.
The Visa head stated that the company was spending an amount of effort to act as a bridge linking the crypto industry with their worldwide network of over 80 million merchants and 15,000 financial institutions.
