- The company denied the Reuters article
- They will focus on fiat-backed cryptocurrencies
- And also on the introduction of new payment solutions
Recently, Reuters journalists reported that Visa and Mastercard are pausing partnerships with crypto projects. Visa representative declaredthat this information is not true.
“Recent difficulties have not affected our crypto strategy. Visa will be the bridge that connects platforms and blockchain technologies with users. We have invested and will continue to invest in this industry.”
This information was confirmed by the head of the cryptography department of Visa, Cu Sheffield. He acknowledges the challenges and uncertainties in the crypto ecosystem. But the company is betting on fiat-backed digital currencies running on public blockchains. According to Visa, they will play an important role in the payments ecosystem.
And recent Visa partnerships confirm this. So, they recently started collaborating with the Wirex app. The companies will expand their scale in the UK and countries in the Asia Pacific (APAC) region by providing users with more payment options.
During the StarkWare Sessions 2023 conference in Tel Aviv, the head of Visa’s crypto department for cryptocurrency, Cu Sheffield, announced that the company is testing the possibility of making settlement transactions in USDC stablecoin on Ethereum. But he emphasized that so far we are talking only about large payments.