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What? Cryptocurrencies actually account for 70% of VISA's cryptocurrency transaction volume in 2021? This customer group has a transaction volume of $2.5 billion using their cryptocurrency payment services! Isn't that exaggerating?
Currently, VISA has announced that its cryptocurrency partner network has increased from 54 to over 65, including well-known enterprises such as Coinbase, Circle, and Block Fi. The number of businesses accepting cryptocurrency payments has also increased to nearly 100 million. The crypto-linked cards launched in collaboration with these partners, such as Coinbase, Circle, and Block Fi, allow customers to use cryptocurrency anywhere that accepts Visa, and merchants do not need to be familiar with the asset class. They receive fiat currency just like a typical VISA transaction, with VISA's payment processor converting it on the backend. Meanwhile, the study found that approximately 13% of the surveyed individuals in the United States and 500 adults distributed across the mentioned nine countries expressed a desire for institutions or stores to enable cryptocurrency payment functionality.
Jeni, Visa's Global Head of Merchant Sales and Acquiring, stated in an interview with Reuters: "I think more and more people are getting comfortable with cryptocurrencies..." However, despite the increasing popularity of cryptocurrencies among retail and institutional investors, the actual utilization of crypto is not widespread globally. The key factors hindering the widespread use of cryptocurrencies for paying goods and services are the volatility and high fluctuations in token prices.
It's worth noting that VISA currently has no plans to hold cryptocurrencies on its balance sheet. Currently, 25% of merchants have accepted cryptocurrency transactions. I wonder what everyone's thoughts are on this matter?
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Post time 18-11-2023 05:41:26