The big picture: The beauty of what Visa offers with its card program is the fact that regular merchants such as grocery stores and coffee shops do not have to accept cryptocurrencies directly to trade with those with cryptocurrency. As long as they accept Visa cards, which about 70 million merchants worldwide do now, they are good to buy.
Visa has announced its partnership with top 50 crypto platforms including Coinbase, FTX and CoinZoom, allowing users to convert and spend their digital currency at millions of merchants around the world. "It's going to be like any other Visa transaction for them," Coy Sheffield, Visa's head of crypto, told Business Insider. “But on the inside, cryptocurrencies instantly turn into fiat.” In the first half of 2021 alone, Visa said that more than $1 billion was spent on visa cards related to cryptocurrency. In addition, a quarter of companies participating in the Fintech Fast Track Visa Program are working to issue plastic visas connected to a crypto system. Hold the cryptocurrency - then millions of merchants who don't really understand crypto. They don't want to update their POS and terminals and know what the blockchain is. “- One of the most important features of Visa is the rewards program that allows consumers to spend their Fiat and win crypto rewards, such as how the program works. Traditional rewards, airline miles or hotel privileges for spending a visa, it is believed that such a program can help them gain long-term customer loyalty. The long term is among the new and seasonal crypto enthusiasts. p>
Visa works with 50 leading crypto companies to allow users to spend their digital assets with merchants around the world