VISA weitet seine Beteiligung mit Bitcoin & Kryptowährungen aus

Payment giant Visa has expanded its stake in Bitcoin and cryptocurrencies. In their Q2, 2021, earnings call, the company has a long roadmap and many plans to incorporate these assets into its payments network.

Al Kelly, Chairman and CEO of Visa, spoke about the “possibilities” the company is looking to explore with BTC and digital assets. Kelly said that he views this cryptocurrency as “digital gold” due to the fact that people are “sticking to” it.

In the crypto industry, Visa will focus on 5 areas. The first is to allow consumers to purchase Bitcoin and other cryptocurrencies. The executive said Visa is working with exchange platforms and wallets to enable this feature. Kelly added:

I would say this is an area that we are leaning into very, very much, and I think we are extremely well positioned.

The payment giant is also working to enable customers to use a crypto payout service. This allows the Visa network to convert funds into BTC or other cryptocurrencies into fiat. The converted funds will be available to make purchases from the 70 million Visa merchants. Kelly believes this will give “immediate benefit” to digital currency. He added:

We have over 35 digital currency platforms and wallets that have chosen to work with us. Coinbase, Crypto.com, BlockFi, Fold, Bitpanda are just a few examples. And so it is certainly a second great opportunity.

Bitcoin with broader use cases on the one hand

On the other hand, the company is trying to give its corporate partners and institutions a “crypto option”. With this in mind, Visa created APIs.

These enabled institutions to offer a buying, trading and custody function backed by Anchorage, a US-based digital asset bank. Kelly later referred to her fourth option, the settlement:

We upgraded our infrastructure to allow a financial institution to settle with them in a digital currency using stablecoin, starting with USDC. (…) So we will now be able to support digital currencies as an additional accounting currency in our network.

Anchorage will also be a key component for this. The digital asset bank will help Visa integrate the mechanism for settling transactions in stablecoins, such as USD Coin (USDC).

Proof of text: newsbtc

Zuletzt aktualisiert am 28. September 2021

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