Terry Angelos stands as the Global Fintech Lead of Visa, and revealed in an interview that cryptocurrency companies have been exhibiting significant amounts of interest to work with Visa.
Pushing Hard Into Crypto
In an interview with Forbes, Angelos had revealed that crypto firms are eager to work with the world’s largest payment processor. The goal for these ferns is to connect to Visa’s network of more than 60 million merchants. Angelos stated that so far, Visa had onboarded 25 or so crypto companies, spread across the globe.
It should be noted that Visa has been more and more prevalent when it comes to the cryptocurrency space at large. Just a year ago, in quite an eventful ordeal, it had become a founding member of the Libra Association, a stablecoin project led by Facebook. However, massive amounts of scrutiny were pressed against Libra, and it wasn’t long before Visa had jumped ship, alongside Stripe, Mastercard, and eBay.
Visa had also invested in Anchorage, a custodial provider. Anchorage itself stands as a member of the Libra association, and has become a member of the Digital Chamber of Commerce, as well. This stands as a blockchain advocacy group situated within the US.
Visa And Coinbase Becoming Partners
The Coinbase crypto exchange stands as one of Visa’s most prominent partners within the crypto space. Initially, both firms had collaborated on the crypto debit card of Coinbase, which would allow users to make payments through the use of crypto. Later on, Coinbase became the first “pure” cryptocurrency firm that had become a principal member of Visa.
With this membership, the exchange was allowed to issue Visa cards to other crypto firms, in turn. Zeeshan Feroz stands as Coinbase UK’s CEO, and gave a statement at the time. He made note that Bitcoin as a whole is typically seen as illiquid, due to the process of selling the coin, withdrawing the money, then first spending it. However, he stated that this card’s goal is to change that, highlighting how it can be spent in real-time instead of needing to be tucked away with at least two days for it to be accessed.
Crypto Firms From All Sizes Onboarded
Angelos made further note of the crypto firms being onboarded, stating that some of them were established, large companies such as Coinbase, and are thus treated as strategic clients. Others, however, had hopped on its Fast Track program, which is an initiative to help firms grow, all the while providing them with access to the payments network Visa provides.