There is great news, as Visa has outlined its plan to support Bitcoin (BTC) and the crypto-currency area in general.
In a recent blog post, the payment giant says it recognizes the role of digital assets in the future of money. This statement alone, in the form of an official statement, stands alone.
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 introduction of Bitcoin.
Today, fiat-supported digital currencies, commonly known as „stablecoins“, have evolved into a promising new payment innovation that combines the advantages of digital currencies with the stability of existing currencies such as the US dollar.
Visa is already active in the field of cryptocurrencies and works with the crypto platforms Coinbase and Fold. The company says it plans to expand its services to digital wallets through its FastTrack program. This should enable Fintechs to integrate into the global Visa network of 61 million merchants.
We have been pushing and developing our digital money strategy for some time. Last year we invested in Anchorage, a company that is building the security infrastructure for the digital money ecosystem…
The company announced that it is only just beginning and plans to expand its support for crypto assets. It therefore already implies that further announcements related to digital currency will follow in the future.
We believe that digital currency has the potential to extend the value of digital payments to a wider range of people and places. We therefore want to help shape and support the role they play in the future of money. We look forward to sharing more about this work with you in the coming months.
Visa also writes that it is working with political leaders and regulators to ensure that the company’s digital currency strategy reflects its values and its strong position on security, privacy, integrity and trust.