• Sun. Jun 23rd, 2024

Visa Reveals Plans To Let Users Buy And Sell Cryptocurrencies

Phillip Seefeldt

ByPhillip Seefeldt

Jan 31, 2021

Financial services firm, Visa, is set to be a significant player in the crypto industry following its latest revelation. The development in the crypto space hasn’t gone unnoticed by many top companies globally, and Visa is set to become the next firm to show interest in investing in the crypto world. According to the firm’s chairman and CEO Alfred Kelly, Visa is willing to improve the crypto’s popularity by permitting users to deploy digital assets as an alternative means of the transaction.

Visa users could buy and sell cryptocurrencies via their credentials

Kelly revealed the company has been motoring cryptocurrency’s recent rise in fame and investors. He believes it is high time the company takes advantage of the industry’s newfound fame. Kelly stated that the firm is working to allow all eligible Visa users to purchase and sell cryptocurrencies seen as predominant assets or digital gold, such as Bitcoin, using their credentials. He reiterated the readiness to work with digital exchange platforms and wallets to achieve its goals before the end of the year.

He also disclosed that the partnership would allow eligible users to make a fiat purchase at any place where Visa is accepted as a payment method. He likened cryptocurrency’s operating on a public blockchain to traditional banking networks, including Real-time Payments (RTP) and the Automated Clearing House (ACH) systems. In his statements, Visa sees digital currencies running on public blockchains as an added network, just like the RTP or ACH networks.

Visa could establish a unique crypto asset

Considering the desire to be an active member of the fast-growing crypto world, the payment firm could create a unique crypto coin in the nearest future. According to Kelly, there might be a need to mine a new crypto asset that users can easily use during transactions.

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However, as things stand, the company is on the right track to achieving its aims and goals after being adopted by 35 top-rated digital exchange platforms, including coin-based Crypto.com, BlackFi, Fold, and BitPanda. In other crypto news today, Crypto trading platform Voyager has on-and-off since Thursday due to “immense ongoing volume.”

Few hours after advising users to invest in dogecoin (DOGE) via its app, the digital exchange platform tweeted that its operating system isn’t functioning correctly. In the post, the firm disclosed it won’t be available for use for some time while the engineers rectify the problems.

In the same vein, the platform sent emails to all users, letting them know the present situation and ensuring their assets’ safety. Though Voyager’s spokesman is yet to speak on the situation, it was revealed through the emails that the unhealthy situations resulted from an unexpected event from a system upgrade.

The news didn’t go well with Voyager’s users, who furiously reacted via their respective Twitter accounts. According to one of the tweets posted by a user, the unfortunate service breakdown led to his inability to purchase DOGE while at 25% less than the usual price.

Phillip Seefeldt

Phillip Seefeldt

Phillip Seefeldt is a skilled and perceptive news writer known for his comprehensive analysis and engaging writing style. With a commitment to accuracy and a deep understanding of current affairs, his articles provide readers with insightful perspectives and thought-provoking insights.

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