Visa: Cryptocurrencies are not only used as an exchange or an investment, they are a cultural movement.
The Visa payments network has entered into 60 partnerships with cryptocurrency companies over the past year and a half.
An internal Visa representative released more details on the actions the company is taking regarding bitcoin and the cryptocurrency ecosystem.
In an interview with NDTV, Cuy Sheffield, as Visa spokesperson, said cryptocurrencies will likely change all businesses. That’s why they want to help their corporate clients understand and embrace these assets to keep up with the digital age we live in and that is coming.
Over the past few years, we’ve seen our clients’ perspective on cryptocurrencies evolve, from skepticism to awareness, to the understanding that cryptocurrencies are likely to involve their existing business in some way. other.
Cuy Sheffield, Head of Crypto at Visa.
A study conducted by Visa in Argentina and other parts of the world is what has the company believing that adoption of these assets will continue to increase globally.
Regarding the research, Cuy Sheffield said: âThe results showed an almost universal knowledge of cryptocurrencies and that a significant portion of those surveyed (almost a third) have already used them as an investment tool or as a means of exchange.”
He also noted that digital currencies “are not just a technological phenomenon or an asset class”. That is, they are not used solely for the purpose of facilitating monetary transactions or as an investment. Go further than that. Cryptocurrencies such as bitcoin include a cultural movement behind it, which will be part of the future of money, he said..
Cuy Sheffield said the volume of cryptocurrency money that Visa cards handle is very large compared to a year and a half ago when it didn’t even exist. Source: LinkedIn.
In a short time, cryptocurrencies were noticed in the use of Visa cards
Over the past year and a half, Visa has formed more than 60 partnerships with other companies so that their cards can be used to buy and mine cryptocurrencies such as bitcoin.. This is what the spokesperson for the company said in the interview, who pointed out that this sector of the company has already moved more than 3.5 billion dollars.
Cuy Sheffield clarified that while this figure represents a small portion of the total money managed by the Visa payments network, it does symbolize something very important. “When you consider that these programs – Visa cards linked to cryptocurrencies – did not exist in any significant way a year ago, this is an indication that they are starting to gain traction,” he said. Explain.
For this reason, as CriptoNoticias reported, the company announced this month that it will begin advising its corporate clients on this matter. âUltimately, we want to serve as a bridge connecting the cryptocurrency ecosystem to our global network of 80 million trading locations and over 15,000 financial institutions.â