Visa Says It Processed $1B+ Crypto to Fiat Payments Between January and June 2021

Visa Says It Processed $1B+ Crypto to Fiat Payments Between January and June 2021

Visa has pledged to continue playing its part in making payments more digital by facilitating crypto payments between suppliers and consumers.

Visa, the renowned payment processor, is not wavering in helping its clients pay for their goods and services using crypto.

Visa mentioned on Wednesday that it has been aggressive in supporting crypto related transactions. It revealed that from January to June this year, clients have spent over $1 billion from Visa cards to pay for goods and services using crypto.

Visa also revealed that it was able to help card holders because of its affiliation with 50 crypto firms. The partnerships have brought together 70 million merchants around the globe. Seeing the enormous amount handled by Visa for clients and their favourite merchants, it is not far from the truth that people are ready to adopt digital currencies in their daily activities.

When a card holder sees an item, he or she can pay with cryptocurrency whether or not the supplier accepts crypto. This is possible because Visa works with exchange companies that quickly process the crypto deposits into fiat for the merchant’s use. Some of the crypto exchanges that work with Visa to facilitate crypto to fiat transactions include crypto.com, Coinbase, FTX exchange and more.

Visa also expressed hope in stablecoins, saying that they act like the digital form of the USD.

Visa’s adoption of crypto began last year when it agreed with Circle to promote the use of USDC through credit cards. Visa made a promise to strive for the best in supporting crypto usage especially with regards to converting it to fiat for the purpose of paying for goods and services.



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