The Capital
Published in

The Capital

Following MasterCard’s Announcement Earlier This week, VISA Have Joined the Crypto Party With Their Own Development Plan

By FVP Trade on The Capital

Following MasterCard’s announcement earlier this week in regards to their expanding support of cryptocurrencies, VISA has joined in and laid out a similar statement wanting to keep in the race with the competition. VISA is planning to make it faster and more simple for consumers to spend digital currency globally.

According to their official statement, around the globe, in excess of 25 digital currency wallets have connected their services to VISA and they want to offer this to their 61 million existing VISA customers worldwide. Mastercard’s initial collaboration is with Wirex which will enable direct crypto access to their clients.

Similar to Mastercards’ acceleration development Program, VISA has set up its FastTrack program. This enables Fintechs, including those in the digital currency world, to integrate quickly with Visa’s global system. It intends to extend support to digital currencies and blockchain companies as per customer and client demand.

The research group at VISA is looking into on-chain blockchain development which incorporates smart contract capabilities, privacy, and security improvements for Bitcoin and Ethereum. It has introduced two innovative projects, FlyClient (to improve the procedure of validation via nodes). It is a unique transaction verification light customer for chains of variable complexity.

The other project is Zether, a payment system that will implement privacy for the execution of smart contracts.

The objectives and values set by the two FinTech giants are distinctly comparable and aim to add new collaborations soon. They are also in contact with major regulatory agencies and organizations around the world to comply with anti-money laundering and anti-terrorist funding directives.




A publishing platform for professionals in business, finance, and tech

Recommended from Medium

The five biggest questions about the new WOO token

Let’s Play, Let’s Earn (KoaKuma

Ricochet Community Call Recap

Deconstructing Stablecoins: A Bridge to a Decentralized Future

12 Days of Christmas — NFT Collection 2021

Decentralized Contracting Platform — Eangelmarkets Review

The ABCs of Donating on Giveth

Introducing Roar Protocol

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
FVP Trade

FVP Trade

We are a global regulated CFD Broker which provides transparent pricing, fast execution and advanced charting tools for our customers.

More from Medium

CryptoTypes: Medium of Exchange & Store of Value (XCC-MEV)

Ethereum — The Next Step

Keeping Up With Bitcoin & Ethereum