Visa has stated that they are looking unique ways to implement cryptocurrencies into its system, after giving Bitcoin the title of ‘Digital Gold’.
At the time of Visa’s second quarter earnings call of 2021, Visa showed a great deal of interest into the crypto space and is looking for many different ways to integrate a new type of cryptocurrency payment system into its network, giving rise to a greater connection between standard currency and cryptocurrency. One of the most important moments in the event was when CEO of Visa, Alfred Kelly said that Visa sees Bitcoin (BTC), the leading digital currency in the world, as ‘Digital Gold’.
Visa had started to show interest in the crypto space back in February. They had managed to integrate its first crypto-based API into its network, giving opportunities for users to trade with cryptocurrency. Then in April, Visa made another move, implementing a system in which the company would utilize USDC to complete transactions on Ethereum.
It is no surprise that Visa thinks this way, because of the huge success that Bitcoin and other currencies have managed to achieve as of now. This maybe the main reason why the company keeps on showing more and more interest into the space, because it believes that the crypto market has a lot of potential to stomp the traditional market and finance. One of the very impressive things is that Bitcoin had managed to gain a market cap value greater than that of Visa and MasterCard combined. This move had definitely turned a lot of heads towards the crypto space.
Visa’s Next Move
At the time of the earnings call, CEO Alfred Kelly mentioned many important details regarding the company’s next moves of implementing crypto into the network. Some of the expected features and plans include, enabling direct cryptocurrency transactions on every single VISA Card, the ability to convert multiple cryptocurrencies at special merchant spots and giving financial institutions a way to complete cryptocurrency payments using all sorts of different stablecoins.
These few steps mentioned above are definitely a huge deal for the crypto space, because it will help solidify the connection between standard currency and cryptocurrency even further. It will help Visa users to easily complete crypto-based transactions without any hassles, as they will have all sorts of different ways to do digital trade.