Visa is set to enter the cryptocurrency market as the payments processor looks to capitalize on the sector’s growth and expand its worldwide business, a report on business outlet Moneycontrol said Tuesday.
Visa moves into the Bitcoin and crypto world
The firm has so far strayed far from the crypto sector but the latter is now too big to ignore. Data from markets tool CoinGecko pegs the entire sector at over $1.7 trillion, or over 15% the size of the gold market.
It’s a space that Visa is looking to capture. “We’re trying to do two things. One is to enable the purchase of bitcoin on Visa credentials,” said CEO Al Kelly in a statement.
“And secondly, working with bitcoin wallets to allow the bitcoin to be translated into a fiat currency and therefore immediately be able to be used at any of the 70 million places around the world where Visa is accepted,” he added.
Bitcoin purchases via a Visa card have so far been limited to crypto exchanges or wallets that instantly convert
Źródło: https://cryptoslate.com/visa-says-its-developing-a-bitcoin-and-crypto-business/
