Visa’s Big Move into Bitcoin
It’s been an eventful week for crypto
Quietly, Visa announced big news related to bitcoin recently. As the provider of the world’s most widely-used credit cards, it has the opportunity to make a big impact on the cryptocurrency market.
Visa announced plans for a crypto software program to help banks roll out bitcoin and cryptocurrency buying and trading services. The company recognizes the interest in digital assets and will allow users to buy and sell cryptocurrencies.
“We set out to make Visa the bridge between digital currencies and our global network of 70 million merchants and today we are the leading network for crypto wallets with 35 crypto platforms choosing to issue with Visa. With this pilot program, we want to extend the value of Visa to our neobank and financial institution clients by providing an easy bridge to crypto assets and blockchain networks.” — Jack Forestell, chief product officer, Visa.
This software will allow banks to offer bitcoin-based services. The actions Visa is taking today will help them become a major play in the cryptocurrency market. It will also help the market grow, as many more will now have access to cryptocurrency services.
Bitcoin, and other cryptocurrencies, have become popular assets in the past year. It is viewed as a hedge…
