Between October-December 2021, users of Visa cryptocurrency cards carried out transactions in the amount of $ 2.5 billion. The data was shared by CFO Vasant Prabhu during a conference with analysts, reports CNBC.
The figure for the first fiscal quarter of 2022 is 70% of the value for the entire fiscal year 2021 ($3.5 billion).
“Users have an understanding that there is a benefit in linking a Visa card to an account on a crypto platform. The main comfort is in instant and seamless access to this liquidity, financing purchases and managing expenses,” said the top manager.
Also, Alfred Kelly, CEO of the payment system, noted that in Visa strategy positioning as a hub in the crypto space is laid – creating conditions for connection, scaling, creating value for consumers in a reliable and secure environment.
At the moment, the number of partners for the issuance of crypto cards has increased from 56 to 65, including Coinbase, Circle, FTX, Bakkt and BlockFi.
Visa integrates USDC into the settlement system
Users can use these cards for payment for retail goods and services, restaurants, travel. Recall that the company is currently developing products focused on stablecoins and central bank digital currencies (CBDC).