Visa is expanding its partnerships with cryptocurrency companies across the globe in an effort to support its commitment to bolstering new types of commerce.
Terry Angelos, senior vice president (SVP) global head of fintech at Visa, and Cuy Sheffield, senior head of crypto at Visa, say they have received a high degree of interest from crypto companies that want to work with them.
Angelos tells Forbes that Visa has onboarded approximately twenty-five companies so far which are at “various stages of development.”
These digital asset firms will have the opportunity to connect with Visa’s network of sixty million merchants around the world. This move to incorporate multiple crypto companies into its network backs up Visa’s claims in July that the company plans to strengthen its bid to shape and support the future of digital asset commerce.
Angelos says that Coinbase is currently Visa’s only cryptocurrency company that is a principal member of Visa; however, there are at least a few onboarded companies that may join Coinbase’s league.
The digital asset-based lending platform, Cred, recently joined Visa’s fintech FastTrack program, which will allow the company to merge swiftly with Visa’s global network. In its effort to be at the forefront of the digital currency sector, Sheffield says Visa not only continues to seek out crypto partnerships but also conducts research into the underlying blockchain technologies involved in these crypto assets.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/greenbutterfly