Visa Planning to introduce Crypto Services in Traditional Banks in Brazil

Visa’s president revealed many plans of Visa company about their upcoming project to make crypto available just like fiat currency in the traditional bank accounts in Brazil. 

Since last year, Visa and MasterCard showed huge inclination towards the crypto and blockchain industry because they know very well that if they will not go with the trend then there are huge chances that they need to get out from the financial industry and they have to shut down their business. Visa recently showed it’s appearance in the NFTs based artwork project.

Related: Visa joined the popular NFT mania CryptoPunk

Eduardo Abreu, Visa’s vice president of new business in Brazil, revealed about the plans of the company. Abreu said that the company is working on API development to integrate the banking system with their platform easily so that they can bring crypto payments systems into direct use. 

And also he said that the company is under a tie-up with multiple banks of Brazil like Zro Bank, Alterbank, and Rippio. Abreu claimed that these big companies will allow their users to connect with them. And also Visa will provide potential crypto solutions for the traditional banking system. 

So they are planning to bring a better connection between the Banks and Crypto products through an application, which is under development. 

Their new platform will help crypto and ETFs based payments without the involvement of any mediator. But one thing still remains a mystery, when Visa will launch its new service and application in Brazil and what its plan is for other regions in the world. 

Abreu also stated that, Company is working on a B2B payment system that is totally based on the blockchain based smart contract system. B2B payment systems will work between business-to -business companies to settle payments in real time. 

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