Visa Will Support Cryptocurrencies

Payment giant Visa has expressed support for cryptocurrencies and said they can be valuable for the development of digital payments.

Visa support

Visa noted the role of bitcoin in this direction, and also stated that they were ready to support the development of the cryptocurrency industry.

«The concept of digital currency — or a digital version of cash controlled by a private key — was created more than a decade ago, with the launch of Bitcoin. Today, fiat-backed digital currencies, commonly referred to as stablecoins» – wrote on the Visa’s blog.  

The value of stablecoins

Visa noted that stable cryptocurrencies are popular not only in the field of fintech, but they are also actively used in various financial institutions, including central banks of states.

Visa partnerships

Visa representatives added they are already actively collaborating with some of the major crypto platforms, such as Coinbase and Fold. To date, Visa has already entered into an agreement with 25 crypto wallet providers.

«We know that policy leaders and regulators continue to have questions and concerns about digital currencies on a range of issues, from consumer protection to payments resilience. We believe the best way to address these concerns is by working closely with leading companies and the public sector» – said in Visa.