Crypto-Linked Spending on Cards Tops $1 Billion
By Mei Ling Tan
1 min read
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.