Visa to allow payments using cryptocurrency

Visa to allow payments using cryptocurrency

Digital currencies are being accepted as a payment method by the mainstream financial industry

More and more banks and companies are starting to accept cryptocurrencies as a form of payment. After Tesla announced that people could purchase vehicles using Bitcoin, another company said it will implement cryptos to settle transactions.

Today Visa announced a pilot program with payment and crypto platform Crypto.com and will allow USD Coin as a payment method.

Cuy Sheffield, head of crypto at Visa: “We see increasing demand from consumers across the world to be able to access, hold and use digital currencies, and we’re seeing demand from our clients to be able to build products that provide that access for consumers.”

In the financial sector, Visa follows the steps of BNY Mellon, BlackRock Inc, and MasterCard, fueling the rumors that digital coins could become a regular part of investment portfolios.

However, despite the news, Visa stock price is trading 0.50% lower in pre-market.

Sources: reuters.com, finance.yahoo.com

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