Visa Inc(V.N) announced its customers spent more than $1billion on its crypto-linked cards in the first half of this year.
Visa continues to take steps toward making crypto transactions easier, and it appears their hard work has been paying off. “It is clear that the crypto community sees value in linking digital currencies to Visa global network,” the post states.
The Company said it would be collaborating with 50 crypto platforms on card programs. These make it easier for customers to convert and spend digital currency at 70 million merchants worldwide. Merchants don’t have to directly accept cryptocurrencies. Visa allows both cards that allows its customers to easily convert crypto into fiat as well as earning crypto as rewards on spending fiat.
“We’ve been busy at Visa, connecting the crypto economy to our ‘network-of-networks,’ a strategy designed to add value to all forms of money movement, whether on the Visa network or beyond,” Visa added.
The move is in line with Visa’s broader acceptance of cryptocurrencies. In March, VISA announced it would allow the use of the USD coin to make transactions on its payment network. Visa also announced today the launch of its first crypto-rewards card in collaboration with BlockFi
