Financial Services Corporation Visa Plans to Create Ecosystem For Crypto Transactions

Visa’s chief financial officer officially announced, global credit card Behemoth is creating an ecosystem that will enable Cryptocurrency transactions with more ease.

In the present time services, whether they are government or non-government, are trying to move their inclination toward better financial infrastructure and that is why they are integrating their services with credit/debit/shopping cards.

Almost every service in the international level is trying to implement all possible options in their ecosystem, so that they can expand their business more perfectly.

Here financial services corporations also entered in this competition to expand their services with the use of Crypto transactions.

No doubt here Visa Card is popular and they don’t need further any type of new things to be use by financial institutions or third party services but still they believe in Blockchain technology and now they will create a ecosystem to make their Visa payment system more better and perfect for those services which want to integrate their crypto related services with Visa payment system.

Vasant Prabhu who is Visa’s chief financial officer said that the global credit card Behemoth is creating an ecosystem to make crypto assets easy to use.

“We are doing a lot to create an ecosystem that makes cryptocurrency more usable and more like any other currency”.

According to Parbhu, volatility is a biggest issue of Cryptocurrency but still people are using it widely for their needs, so it is better to create an ecosystem for Cryptocurrency assets so that people can easily use them with existing traditional financial fiat systems.

Records of Visa says, people did around $1 billion transactions for Cryptocurrency purposes in the first 6 month of 2021.

Al Kelly, Visa of CEO, stated in March that Cryptocurrency will be “extreme mainstream”  in the future.

Well it is good news for the Cryptocurrency community but still here we can’t see MasterCard financial services which are not ready to adopt Cryptocurrency. They are only allowing the Central Bank Digital currency payment system only.

Read also: Crypto Bill of India is Ready : Nirmala Sitharaman