Visa Partners with 50 Crypto Platforms to Enable Clients to Spend and Convert Digital Currencies

Visa, the world's leader in digital payments, announced on Wednesday that it is partnering with 50 of the leading crypto platforms including FTX and Coinbase to launch card programs, allowing clients to spend and convert digital currencies at 70 million merchants worldwide.

According to the official press release, these programs don’t require coffee shops, dry cleaners, or grocery stores to directly accept cryptocurrencies at the checkout. It's the magic of "tap and go" without the complexity of new acceptance points or cryptographic keys.

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The partnership comes as the payment giant found that its customers spent over $1 billion on crypto-linked Visa cards in the first half of 2021.

The move coincides with Visa's broader acceptance of digital currencies. In March, the company announced it will allow the use of the USD Coin to settle transactions on its payment network.

Recently, Visa announced its plan to acquire Tink​, a European open banking platform, for a total financial consideration of 1.8 billion Euros. Tink will retain its brand and current management team, and its headquarters will remain in Stockholm, Sweden.