VISA reveals plans to offer Bitcoin, Ethereum and Ripple payments

Payment giant VISA publishes road maps that will facilitate the creation of a bridge between the payment network and cryptocurrencies such as Bitcoin, Etherum.

In its publication, VISA admits that the arrival of Bitcoin and stablecoins such as Tether is a form of financial innovation that has benefited consumers and traders.

The payment company says it is working with regulated entities, including Coinbase and Fold, to create a bridge between digital currencies and the payment network. As a result, 25 crypto wallets are already linked to the services offered by VISA. In this way, users of these services can use their cryptocurrency funds to spend them using VISA cards or prepaid prepaid cards. Cryptocurrency users using these services can start using Visa Direct. This product enables consumers to make faster payments with cryptocurrencies that can be added to their credentials in real time. In addition, Visa has highlighted the importance of its FastTrack program to expand collaboration with entities related to the crypto space. A Visa spokesman says: "These efforts have made Visa the network of choice for digital currency wallets that are eager to add value to users by accelerating and facilitating the issuance of digital currency around the world."

The next step and an important element in its expansion into crypto payments is an investment in Anchorage. This investment aims to create a secure infrastructure for the cryptocurrency ecosystem. As such, Visa also revealed other events of major importance to the cryptocurrency industry: "Our research team has been researching the science of blockchain technology for several years." The work resulted in several promising innovations, including Zether and FlyClient. Today, research is focusing on new mechanisms that improve scalability and enable offline digital currency transactions.

VISA works with regulators to promote the adoption of cryptocurrencies.

One of the major obstacles to the VISA Action Plan is political, regulatory and other governmental attitudes. By arguing that it is about protecting consumers and preventing money laundering, governments like the United States have strict policies on Bitcoin and the cryptocurrency market.

On this point, VISA said it is working with policymakers and global organizations to "shape dialogue and understanding" of cryptocurrencies. The company mentioned working with the World Economic Forum to formulate recommendations that central banks can take into account when creating the digital currency (CBDC). A spokesman for VISA concludes: “We believe digital currencies have the potential to add value to digital payments to more people and places. Therefore, we want to help shape and support the role that money will play in the future. "