According to the official announcement issued by the company's representatives Visa, she plans to allow users to cash in cryptocurrency resourceswhich will be available for a total of 70 million stores. This means that soon digital currencies will be able to be transferred to the Visa card and then made payments.
Position on digital currencies
Your latest plans Visa revealed during a teleconference devoted to the company's revenues for the first quarter of this year. The company was represented by Mike Milotich, Vice President of Investor Relations. Milotich revealed that Visa intends to enable its clients to cash in bitcoin and cryptocurrencies that can be spent in 70 million stores.
The topic of digital currencies emerged while discussing an integrated platform for sending fast and simple payments to vendors. Milotich pointed out that the interest in them was clearly growing, and therefore presented Visa's position on this matter.
Visa in the world of cryptocurrencies
First of all, it's important to emphasize that Visa makes a distinction between real cryptocurrencies and stablecoins. As assets belonging to the first group, the company treats only the means of storing value. Milotich emphasized that this is not yet a highly popularized form of payment. Hence, the company's strategy includes allowing users to purchase and redeem cryptocurrencies from one of the 70 million vendors that accept Visa cards. The company would therefore become a kind of intermediary in cryptocurrency trading.
Plans for the future
As emphasized by Milotich, it cannot be ruled out that in the near future Visa will go a step further by adding digital currencies to its network. The company is able to make these innovative means of payment even more useful and, above all, safe. Thanks to actions taken by Visa, such as establishing cooperation with wallets and exchanges, issuing cryptocurrencies in fiat form will soon become even easier and faster. As for stablecoins, they are also part of the company's network strategy. According to the plan, they will be integrated in the same way as fiat currencies, so that you can use them directly from your own account, without any exchange intermediaries.