Posts

VISA and Bitcoin Banking Roadmap - More Mainstream Adoption avenues

avatar of @scooter77
25
scooter77
@scooter77
·
·
0 views
·
1 min read

If markets weren't already bullish on Bitcoin, a new announcement was released today.

Visa has announced it will assist banks to rollout cryptocurrency services with a Visa crypto software program later this year.

Unlike Paypal, the software will assist banks to allow customers to withdraw and have custody over their crypto assets.

Bitcoin as a payment method has lost appeal as markets and investors look towards Bitcoin as an asset and hedge against inflation. More akin to Gold than fiat money, Visa sees Bitcoin investors are likely to HODL, sell and trade.

"We see crypto assets as more like digital gold," Visa’s head of crypto, Cuy Sheffield, said ahead of the announcement, speaking over the phone. "There's less demand to spend bitcoin." Source

Visa aim to work with wallets and exchanges to make it easier to cash out to Visa credentials and then be able to make purchases with traditional fiat.

With Elon Musk also touting Bitcoin as on the verge to breaking into traditional investment markets, this announcement by Visa is sure to ensure the value and use of crypto continues well into the future.

Thanks for reading.

Posted Using LeoFinance Beta