Visa, a global leader in payments technology, has marked a significant milestone by completing a pilot test in collaboration with HSBC and Hang Seng Bank. The program, a part of the “Digital Hong Kong Dollar” pilot organized by the Hong Kong Monetary Authority (HKMA), opens new horizons for secure and efficient financial transactions. Transforming Interbank...Read More
Stablecoin payment adoption continued to thrive last year despite massive capital outflows from the crypto market at large, according to a new report from European hedge fund manager Brevan Howard. Analysts found that the stablecoin market settled over $11 trillion in value in 2022 and that over 25 million blockchain addresses held over $1 in...Read More
American payment goliath Visa is exploring ways to facilitate payment of on-chain gas fees through the use of a Visa card. In a recent report, Visa’s Product Manager Mustafa Bedawala emphasized a challenge associated with cryptocurrency wallets faced by users which requires them to constantly manage their ETH balance to cover gas fees. The company...Read More
European crypto exchange Lama announced the launch of its Visa cards, enabling users to spend their crypto assets anywhere and convert them to fiat instantly. According to a press release sent to CryptoPotato, the cards will benefit users in several ways, including a 2% bitcoin (BTC) cashback on all purchases for the highest plan. Lama...Read More
Global payments giant Visa has deployed experimental smart contracts on Ethereum’s Goerli testnet to pilot gasless transactions through account abstraction. The two sets of smart contracts, dubbed Paymaster, will simplify user interaction with the Ethereum network by performing complex tasks and managing transaction costs on behalf of other accounts. Visa Tests Paymaster for Frictionless Transactions...Read More
Visa’s crypto head dismissed an earlier report from Reuters about the company halting crypto-related launches as inaccurate. Instead, he said Visa will continue to partner with more cryptocurrency firms that can facilitate stablecoin payments, despite the ongoing bear market. Visa Exec Refutes Reuters Report In a tweet thread on Tuesday (Feb. 28, 2023), Cuy Sheffield,...Read More
The CEO of the world’s largest credit card company told shareholders on Tuesday that stablecoins and central bank digital currencies (CBDCs) will play a “meaningful role” in the payments space going forward. The company also published its 2022 annual report, in which it wrote about its simultaneously complementary and competitive relationship with cryptocurrencies. Visa’s Crypto...Read More
The world’s largest payment processor – Visa – has terminated ties with FTX less than a month after introducing a new debit card program. Deeming the situation with the debt-ridden cryptocurrency exchange “unfortunate,” Visa’s spokesperson told Reuters that the company is “monitoring developments closely.” The financial services company’s official statement read, “We have terminated our...Read More
Leading global payment processor Visa has launched a new non-fungible token (NFTs) solution dubbed “Visa Masters of Movement,” designed to engage football fans in the FIFA World Cup Qatar 2022. Visa has been the official payment partner of the International Federation of Associations of Football (FIFA) since 2007. The payments giant described its new product...Read More
The financial services corporation – Visa – collaborated with the cryptocurrency exchange – FTX – to offer debit cards in 40 countries across the globe. The cards are already available in the United States and will reach other Asian, Latin America, and European nations soon. Visa’s Next Crypto Move In an interview for CNBC, Visa’s...Read More
Visa, Mastercard, and PayPal joined the massive number of companies leaving Russia following Putin’s “special military operation” against Ukraine. As such, the question remains if Russians will turn to cryptocurrencies. Visa, Mastercard, and PayPal Leave Russia Ever since the war started between the two former Soviet states, the Western world has taken a different approach...Read More
Payments firm Visa announced a partnership with blockchain software company Consensys to offer an on-ramp for central bank digital currencies (CBDC) to existing payment networks. Visa and ConsenSys Partnership According to the official press release, the end goal is to facilitate CBDC networks to connect to traditional financial service providers seamlessly. With the latest partnership,...Read More
Visa – the leading payment processing company – has completed the acquisition of CurrencyCloud for a whopping 700 million British pounds, worth around $925 million. In a press release from December 20th, the payment processing mogul Visa announced that it had completed the acquisition of CurrencyCloud. The latter is a platform that allows banks and...Read More
The financial tech company, Nuvei has announced the launch of crypto-friendly debit cards. The rollout, which involves collaboration with the American multinational payment service Visa, will target Nuvei’s partners across the European Economic Area (EEA) and United Kingdom (UK). Crypto-Friendly Debit Cards Simplex – Nuvei’s subsidiary – partnered with Visa to enable its clients to...Read More
The payments processor giant, Visa, seems to be increasing its involvement in the field of cryptocurrencies. The company now plans to launch an advisory practice in hopes of helping its clients to properly understand the world of crypto. CryptoPotato recently reported that Visa announced a Layer-2 payments channel for stablecoins and central bank digital currencies. Not...Read More
Global financial services company Visa is collaborating with NFT artist Micah Johnson to establish a program that would enable creators to understand the non-fungible token industry better and utilize various public blockchain networks to develop and sell their digital works. Visa to Teach Creators about NFTs Visa announced the news via a press release on...Read More
On Sept. 30, Visa’s Global CBDC Product Lead, Catherine Gu, wrote that the company’s research and product teams are working on a new blockchain initiative called Universal Payment Channel (UPC). The cross-chain interoperability hub will connect different DLT networks to facilitate transfers of digital assets. Gu used the example of splitting a bill between friends...Read More
The digital fintech platform COTI has announced its latest products that will provide Visa debit cards and bank accounts to users. Its partner in the initiative is the financial institution Simplex. COTI’s New Services COTI (Currency Of The Internet) – a blockchain platform allowing organizations to build their own payment solutions – has expanded its...Read More
Visa announced on August 23rd that it had spent nearly 50 ETH for a CryptoPunk non-fungible token. Thus, the US behemoth continues to showcase its support for the cryptocurrency industry. The global payments tech firm took it to Twitter on August 23rd to announce the acquisition of CryptoPunk #7610. The transaction was completed on August...Read More
Although numerous banking organizations have restricted their users from interacting with Binance, Visa and Mastercard have reaffirmed their belief in the world’s largest crypto exchange. With the growth of its services and popularity, Binance attracted regulatory scrutiny from various global watchdogs, as CryptoPotato explained recently. While the exchange’s attempts to enhance its compliance requirements continue...Read More
The global payments giant Visa has approved the issuance of a physical debit card that will allow Australians to spend their bitcoins at local stores and leisure venues. The inovation will enable customers to make direct purchases with crypto instead of converting digital assets to fiat money. First BTC Spending Card in Australia According to...Read More
Blockchain Capital remains a major tech backer in the DLT space with investments in numerous crypto and DLT projects. Fund V with $300M Funding According to a press release published on Monday (June 22, 2021), Blockchain Capital has closed funding for its Fund V LP. The capital raise reportedly drew participation from several high-profile backers...Read More
As the number of underbanked people continues to increase, Tala has partnered with Visa to onboard several individuals who do not have access to basic financial services into the crypto economy. Announcing the move in a press release yesterday, Tala partnered with Stellar Development Foundation (SDF) and popular stablecoin issuer, Circle, for the project. Under...Read More
During Visa’s Q2 2021 earnings call, the company showed interest in fully integrating a cryptocurrency payment system into its current infrastructure, with several interesting elements that would push the boundaries of the bridge between legacy finance and the crypto world as we know it. Most notably, Visa’s CEO Alfred Kelly stated that the company viewed...Read More
Cryptocurrencies have so far become more than just a passing fad. These assets represent the future of global finance and money, and they are on a significant rise that can’t possibly be denied. Since January, Bitcoin alone has risen by almost 100 percent. The asset has broken its previous all-time record high of $20,000, and...Read More
Apart from surpassing the $1 trillion level, bitcoin’s market capitalization is now worth more than two of the largest financial service companies – Visa and MasterCard – combined. Moreover, BTC’s market cap is also higher than several of the largest US-based banks, including JPMorgan, Bank of America, and Citigroup. Bitcoin Above Visa and MasterCard The...Read More
Visa is to become the first large payments network to use a stablecoin as a settlement currency. By partnering with the popular cryptocurrency exchange Crypto.com, the San Francisco-headquartered giant will offer a crypto settlement system for fiat transactions based on the Ethereum blockchain. According to the announcement from earlier today, Visa has joined forces with...Read More
Mastercard’s recent move to enable crypto on its network is a significant update that will help further Bitcoin’s adoption and make it mainstream. However, following the purchase of Bitcoin by Tesla and MicroStrategy the obvious next step was to consider Bitcoin payments, however, a critical question is, are retail traders willing to spend their Bitcoin...Read More
Bitcoin’s second attempt at making it past $40,000 failed last week, with all eyes now on the cryptocurrency’s next big move. Interestingly, while BTC was trading at $34,855 at press time, outflows from spot exchanges were up too. In fact, 15,000 BTCs have flown out of Coinbase at the $32,400-price level. Such significant Bitcoin outflows...Read More
Wirex, the prominent payments platform based in London, has received a Visa principal membership in Europe. As per the announcement, the membership will allow Wirex to issue Visa cards, offer new innovative products, and apply for additional licenses. This announcement comes in a bullish market wherein Bitcoin has been registering new highs. This has also...Read More
