Visa to embrace crypto by launching a pilot program on crypto payments

[DarkDays]

Here's some positive news.
 
Visa enlists onto the crypto supporter group by allowing payment settlements using cryptocurrency.

Source here: https://www.reuters.com/article/crypto-currency-visa/exclusive-visa-moves-to-allow-payment-settlements-using-cryptocurrency-idUSB8N27V00M

While this is a pilot study, it seems that Elon's influence as well as other major finance firms like BlackRock Inc and Mastercard Inc is really making an impact.

I wonder which major firm/company will be next to realise the power of crypto  

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[AmoreJaz]

another good development for the crypto community. though Visa is accepting only the USDC stablecoin at the moment, i believe, it is a matter of time before they integrate BTC and other popular alts. right now, for them, USDC is like transacting with USD fiat money. so they don't have to worry about volatility.
but already a good step to crypto adoption in their payment system. definitely, other big companies will follow their steps. anyway, big companies like Microsoft, AT&T, or BMW, have been accepting bitcoin payments for quite a while now. you can also check other 15 biggest companies that are already into crypto payment here

[nikolastech]

Love it we getting so much good news daily!!!

[nelson4lov]

Here's some positive news.
 
Visa enlists onto the crypto supporter group by allowing payment settlements using cryptocurrency.

Source here: https://www.reuters.com/article/crypto-currency-visa/exclusive-visa-moves-to-allow-payment-settlements-using-cryptocurrency-idUSB8N27V00M

While this is a pilot study, it seems that Elon's influence as well as other major finance firms like BlackRock Inc and Mastercard Inc is really making an impact.

I wonder which major firm/company will be next to realise the power of crypto  

Glad to see Visa finally following suit with Mastercard. Although it's still a pilot program, they said that they're looking to aboard more partners in the near future and maybe we could see some more support as well because they only support USDC crypto transactions at the moment. Let's hope they'll add Bitcoin to the list anytime soon.  Now that PayPal, Mastercard and Visa are rolling out support for crypto, it shouldn't take long for other major and minor financial firms will follow suit so let's just keep our fingers crossed. There's more coming, I'm sure.

[btc_angela]

Huge companies is already on the bitcoin bandwagon, it can't be ignore, otherwise they will be left in the closet with this new revolution.

I agree that this is welcoming news indeed, although not completely on-board because this is just a pilot program, but it's either they will go full crypto when this pilot program becoming encouraging for them and for their clients, or this is just the beginning for them and other well established financial and payment institutions.

[bolawin]

they should enable dogecoin to make a deposit, if its from Elon effect then probably they already know about dogecoin and the new generation who entered the crypto world like TikTok users probably have also used Dogecoin before.
dogecoin -> visa
dogecoin -> bitcoin (eventually)
dogecoin -> defi, etc ...

[DarkDays]

Here's some positive news.
 
Visa enlists onto the crypto supporter group by allowing payment settlements using cryptocurrency.

Source here: https://www.reuters.com/article/crypto-currency-visa/exclusive-visa-moves-to-allow-payment-settlements-using-cryptocurrency-idUSB8N27V00M

While this is a pilot study, it seems that Elon's influence as well as other major finance firms like BlackRock Inc and Mastercard Inc is really making an impact.

I wonder which major firm/company will be next to realise the power of crypto  

Glad to see Visa finally following suit with Mastercard. Although it's still a pilot program, they said that they're looking to aboard more partners in the near future and maybe we could see some more support as well because they only support USDC crypto transactions at the moment. Let's hope they'll add Bitcoin to the list anytime soon.  Now that PayPal, Mastercard and Visa are rolling out support for crypto, it shouldn't take long for other major and minor financial firms will follow suit so let's just keep our fingers crossed. There's more coming, I'm sure.

I agree. There are a few big financial players making a move into the crypto space, regardless of how skeptic they might be, they don't want to miss out. And this is great as it adds traction and more credibility, laying the ground for others to join and continue with this rally.

I can only say that the crypto space will take over the financial institutions as we know it today, slowly but surely

[Bitcoin_Arena]

I don't know if I am one of the abnormal ones, but if it has nothing to do with Bitcoin, such news doesn't usually excite me or feel positive at all
Bitcoin is a very secure decentralized network yet VISA seems to rush for a centralized USDC, one that can easily be controlled.

[hatshepsut93]

Aren't ETH fees kinda high right now and tend to get high when there's a lot of trading activity? How's Visa going to deal with that? Or does the settlement happen in batches rather than for each individual transactions?

From this article it's not fully clear how all this thing works and what's the benefit for the users. But the fact that Visa is interested in cryptocurrency is pretty big, but I wonder if they will ever adopt Bitcoin.

[ecnalubma]

This is another adoption of crypto by the big company more will follow. No doubt this is one major news that drives crypto prices up today. Despite the global crisis, Bitcoin and crypto is going opposite the positivity is overwhelming we can say that this is the meanstream when big institutions recognise it.

[Wexnident]

another good development for the crypto community. though Visa is accepting only the USDC stablecoin at the moment, i believe, it is a matter of time before they integrate BTC and other popular alts. right now, for them, USDC is like transacting with USD fiat money. so they don't have to worry about volatility.

I'm guessing they're testing out some stuff, hence why they wanted to start with a stablecoin. They're also probably checking out how much fees they would incur if they ever started testing, and then test around on a few coins here and there. I wouldn't necessarily be down since it's a stable coin, since originally the idea of cryptos being used by major financial corps wasn't that visible, and yet here we are now. Any development is still development in my eyes anw.

[Darker45]

A welcome news indeed, but this is just one of the first few steps. It's great that we've arrived at this particular point but this is not where we want to be really. This is not yet the goal. This is a significant development toward mass adoption, though.

Even with this significant step, however, things are still essentially based on fiat. What was replaced with this decision was the conversion from crypto to fiat. But the replacement is not much of a big deal as it is a stable coin which is also pegged on fiat. There's not much change really.

[bittick]

at the current time I think it's fair to say that crypto has already dominated the world, if not for some government that overly paranoid against crypto we might have seen far better adoption right now but seeing that visa really trying to embrace crypto and trying to get into it, really make me wonder what's gonna happen to our crypto market 5 years in the future as it's only matters of time until other large corporations adopt it as well.
Maybe integration of crypto to apple pay and google pay next? who knows

[Trinx01]

This is another good news for the crypto community, Visa is now accepting cryptocurrency specifically stable coins, well this is just a stepping stone before they consider as well bitcoin and altcoins. It is such a great feeling that every single day, I always read good news about the development of the crypto community. Hoping that we could see a whole mass adoption shortly.

[pooya87]

What I mostly wondered after reading this news the other day was when all of this is going to blow up in their face because they aren't embracing bitcoin, they are leaning more towards altcoins many of which are centralized and highly risky!
To be honest this news sounds more like a panic move without much thinking and the day the centralized altcoin scammed them, blocked their account or something like tat is the day they too realize they should never use anything centralized

[Reatim]

Here's some positive news.
 
Visa enlists onto the crypto supporter group by allowing payment settlements using cryptocurrency.

Source here: https://www.reuters.com/article/crypto-currency-visa/exclusive-visa-moves-to-allow-payment-settlements-using-cryptocurrency-idUSB8N27V00M

While this is a pilot study, it seems that Elon's influence as well as other major finance firms like BlackRock Inc and Mastercard Inc is really making an impact.

I wonder which major firm/company will be next to realise the power of crypto  

looks Like i need to reactivate my Visa once more to have access in using this featur though this is just a Pilot program or a test but I'm sure the impact will lead for this to be permanently activated.

Well another Applause to Elon for this reaction from another Business example .

[slaman29]

It's old news though but yeah still good news. I mean you know already Coinbase is partnered with Visa since last year already so Visa is definitely deep diving into crypto (and Coinbase I believe was part of that pilot program along with many other blockchain companies already).

Why are we crediting Elon for this also now?

[davis196]

Something weird is happening in the world of global finance,since corporations like PayPal and VISA became suddenly interested into adopting cryptocurrency payments.I wonder what's the main reason for this.This couldn't be marketing only.The crypto community is still relatively small and few hundred thousand new customers aren't such a big deal for major corporations like VISA.
Anyways,if VISA is going to embrace only stablecoins,then this is a pseudo crypto adoption.I guess that having Bitcoin settlements will be a little bit harder to implement,since Bitcoin is very volatile.

[joniboini]

What I mostly wondered after reading this news the other day was when all of this is going to blow up in their face because they aren't embracing bitcoin, they are leaning more towards altcoins many of which are centralized and highly risky!

I guess they want something with high throughput and less hassle to set-up. They might set up their own node to process their transactions too if they think it's good enough. But even if that's not the case, using Ethereum is somewhat weird considering the fee is high, which is unreliable for microtransactions.

Sooner or later they might start using Bitcoin to secure big value transactions though, I doubt they're that stupid using a network where 51% attack is easier to do.

[cryptomaniac_xxx]

I don't know if I am one of the abnormal ones, but if it has nothing to do with Bitcoin, such news doesn't usually excite me or feel positive at all
Bitcoin is a very secure decentralized network yet VISA seems to rush for a centralized USDC, one that can easily be controlled.

We don't know, maybe they are just really testing crypto for now and perhaps later will also allow bitcoin for their transactions. It's too early to say what's Visa's true intention, USDC and Ethereum Blockchain, for settlements, it's really decentralized and it could break anytime for all we know and with Ethereum's gas fee too high, doesn't make sense in the long run.