Crypto-Linked Spending on Cards Tops $1 Billion
In this article (4)
Crypto-linked spending on Visa cards topped $1 billion despite continued doubts about cryptocurrencies as a means of payment.
Credit card giant Visa achieved the feat in just the first half of 2021, according to a statement, underlining more steps to make crypto transactions smoother.
The firm said it was seeking to partner with 50 crypto platforms to improve ease of conversion and spending in digital currencies across 70 million merchants worldwide.
Despite continued regulatory pressures, crypto adoption continues to rise across the financial sector with global banks like Goldman Sachs, Morgan Stanley, Standard Chartered and DBS launching various related offerings.
Questions & Answers
Q.How much crypto-linked spending occurred on Visa cards in the first half of 2021?
How much crypto-linked spending occurred on Visa cards in the first half of 2021?
Crypto-linked spending on Visa cards surpassed $1 billion in just the first six months of 2021. This figure was achieved despite ongoing uncertainties regarding cryptocurrencies' suitability as a form of payment, as confirmed by Visa's statement.
Q.What is Visa doing to make crypto transactions easier for consumers?
What is Visa doing to make crypto transactions easier for consumers?
Visa is actively working to make crypto transactions smoother by partnering with 50 different crypto platforms. This initiative aims to improve how easily digital currencies can be converted and spent across its network of 70 million merchants globally.
Q.Are traditional financial institutions embracing cryptocurrencies, despite regulatory concerns?
Are traditional financial institutions embracing cryptocurrencies, despite regulatory concerns?
Yes, traditional financial institutions are increasingly adopting cryptocurrencies, even with ongoing regulatory pressures. Global banks such as Goldman Sachs, Morgan Stanley, Standard Chartered, and DBS are launching various related offerings in the financial sector.
Reader pulse
Does crypto-linked spending offer significant retail growth?
18,703 votes so far