Visa is pushing crypto adoption, believes in NFTs too

The credit card provider Visa has more than 60 partnerships with crypto platforms, says the head of the crypto department in an interview. They also want to get into the NFT business.

Credit card giant Visa has done a lot to reinforce its crypto-friendly reputation. The number of Kpyto platforms with which one works has now risen to over 60.

In one Interview With NDTV granted Visa’s crypto boss Cuy Sheffield an insight into the payment service provider’s strategy. He shared that the company has doubled its crypto partners in the past 18 months to fuel the size and scope of the project. Sheffield also mentioned that the number of Visa employees working on crypto in any form would now run into the hundreds. Previously there were only a handful.

According to Sheffield, NFTs will also play a role in Visa in the future.

NFTs are another exciting aspect of the crypto ecosystem that we are closely following at Visa. NFTs have the potential to become a powerful accelerator for the creative industries. They are the entry barrier for individual creatives to earn a living through digital trade.

$ 3.5 billion crypto transactions on Visa

He sees the crypto adaptation – not least thanks to Visa itself – on the advance. The company sees itself as a “bridge” that connects the crypto industry with its global network of 80 million merchants and 15,000 financial institutions. Sheffield claimed that Visa has already processed $ 3.5 billion worth of crypto transactions. That underscores how much the crypto business has grown over the year.

Crypto is not just a technological phenomenon or an asset class. It’s also a deeply cultural issue. Many consumers believe that a movement is afoot and that cryptocurrencies will be a part of the future of money

Sheffield continues. It remains to be seen whether Visa will further expand its efforts in the crypto space in 2022.

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Visa is pushing crypto adoption, believes in NFTs too