Financial services company, Visa, has continued to facilitate crypto payments in 2021 with news that over 60 crypto firms have entered patnerships with Visa – a figure that has doubled in the last 18 months.
According to Cuy Sheffield, the company’s head of crypto, VISA is not relenting in its efforts to support crypto, adding that the partnerships with 60 top platforms will involve card programs that make it easy for consumers to convert and spend crypto at over 80 million merchant locations across the world.
Moreover, going by this quote, the company has grown its crypto focused operations:
“The number of people cross-functionally at Visa working on crypto in some capacity is now in the hundreds – up from just a handful of employees.”
With crypto cards, coffee shops, dry cleaners, or grocery stores do not need to directly accept crypto at the checkout. Instead, the cards facilitate conversions from crypto to fiat ‘instantly and behind the scenes.’
In July 2021, Visa announced that more than $1 billion worth of cryptocurrency was spent by consumers globally on goods and services through its crypto-linked cards in the first 6 months of 2021.