Visa Ties with about 60 Crypto Platforms to Enable Clients to Spend Digital Currency at 80 Million Merchants

Fazzaco learned that the US payments giant Visa has collaborated with approximately 60 leading crypto platforms to launch card programs that make it easy for consumers to convert and spend digital currency at 80 million merchant locations worldwide.

Visa has more than doubled its number of partnerships with crypto platforms in the last 18 months - up to 60 as of this Monday, which included FTX, Blockfi, Crypto.com, Coinbase, and Binance, etc., according to Cuy Sheffield, Visa’s Head of Crypto.

“Crypto-linked cards make it easy for consumers to convert and spend digital currencies, without requiring coffee shops, dry cleaners, or grocery stores to directly accept crypto at the checkout,” he added. “All the conversions from crypto to fiat happen instantly, behind the scenes. In-store, online, it’s as easy as a standard Visa transaction.”

The global digital payment leader has launched in early December Crypto Advisory Services​ for clients and partners. On top of that, it has closed the acquisition of Currencycloud​, the provider of fully cloud-based platform for B2B cross-border payment solutions.

“Visa aims to provide our crypto advisory services to clients globally wherever there is interest, and currently, we offer services in markets where the regulations permit such transactions,” he continued. “At the end of the day, we want to serve as a bridge connecting the crypto ecosystem with our global network of 80 million merchant locations and more than 15,000 financial institutions. We’ve built a lot of momentum in this space, and we’ll continue to support the crypto ecosystem in several ways.”