Cryptocurrency payments through Visa reached $2.5 billion

In the first quarter, the use of Visa crypto-credit cards reached $2.5 billion. Despite the volatility that exists in the cryptocurrency market, digital assets have become more often used as a means of payment.

Commenting on the situation, the financial director of the payment company highly appreciated the results achieved. According to him, the increase in the activity of using Visa cards is significant. Back in the first half of 2021, user spending was only $1 billion.

In many ways, the increase was achieved through the establishment of new partnerships with crypto companies. Over the past year, the number of partners has increased from 54 to 65 partners, including Coinbase, Circle and BlockFi.

Vasant Prabhu told the media that consumers are increasingly linking cards to a cryptocurrency account, as this allows them to manage funds and make instant purchases. They can pay with cryptocurrencies, and stores receive fiat into their account, just like regular Visa transactions.

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CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investments in it can lead to losses. Readers should do their own research before taking any action.

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