Visa Says Spending on Crypto-Linked Cards Topped $1 Billion in H1 2021

0
Loading...

Visa said its customers spent more than $1 billion (roughly Rs. 7,480 crores) on its crypto-linked cards in the first half of this year, as the payments processor takes steps to make crypto transactions smoother.

The company said it was partnering with 50 cryptocurrency platforms to make it easier for customers to convert and spend digital currencies at 70 million merchants worldwide.

The move is in line with Visa’s broader acceptance of digital currencies. In March, the company announced it will allow the use of the USD Coin to settle transactions on its payment network.

Loading...

Investor sentiment on cryptocurrencies has somewhat soured recently, with regulatory crackdowns in China and elsewhere. Bitcoin, the world’s biggest cryptocurrency, has seen a punishing slide following the euphoria earlier this year which took it to record highs. Bitcoin price in India stood at Rs. 24.8 lakhs as of 11am IST on June 8.

However, a clutch of high profile names are continuing to strengthen their involvement with the digital assets. Last week, Japan’s investment giant SoftBank invested $200 million (roughly Rs. 1,490 crores) in Mercado Bitcoin, one of the largest cryptocurrency exchanges in Latin America.

Wells Fargo & Co said in May it would onboard an actively managed cryptocurrency strategy for its wealthy clients, while Goldman Sachs Group launched a crypto trading team the same month.

Loading...

© Thomson Reuters 2021


Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

Loading...

For all the latest Technology News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Loading...
Denial of responsibility! TechAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More