Cryptocurrency Card Usage Increased Significantly in H1 2021, Says Visa

Cryptocurrency spending has increased rapidly in the first half of 2021, according to the latest statement released by financial services giant, Visa. The US-based company mentioned that it is planning to create an ecosystem to increase the usage of cryptocurrency assets.

According to a recent report published by CNBC, Visa users spent more than $1 billion worth of cryptocurrency assets globally on goods and services through their crypto-linked cards in H1 of 2021. During an interview with CNBC, Visa CFO Vasant Prabhu highlighted the growing popularity of Bitcoin and other digital currencies.

“We are doing a lot to create an ecosystem that makes cryptocurrency assets more usable and more like any other currency. People are exploring ways in which they can use cryptocurrencies for things they would use normal currencies for. There are lots of issues in terms of volatility, etc. But, that’s up to the owners of digital currencies to manage and track. We see a lot of volume on our [network] of people buying cryptocurrencies at these various regulated exchanges and as far as we can see that trend continues,” Prabhu said.

Suggested articles

Swiss Fintech Set to Change the Landscape of Isolated Financial ServicesGo to article >>

Earlier this year, Visa CEO, Al Kelly, revealed the company’s Bitcoin and crypto plans during a conversation at the ‘Fortune’s Leadership Next’ podcast.

Institutional Interest in Cryptocurrency Assets

Since the start of 2021, institutional interest in Bitcoin and other cryptocurrency assets has increased substantially. Large organizations including Tesla, MicroStrategy and Meitu added Bitcoin and other digital currencies to their balance sheets. But, the Visa CFO cleared that the company is not holding Bitcoin or any other cryptocurrency. “We don’t hold cryptocurrencies on our balance sheet today. We hold currencies on our balance sheet that we need to run our business. We hold currencies that we get paid in or we pay people in. That tends to be the dollar, euro, pound. So we don’t have plans to hold cryptocurrency because it’s not typically the way we get paid or the way we pay people,” Prabhu added.

admin

admin

Leave a Reply

Your email address will not be published. Required fields are marked *

Share:

Share on telegram
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

Related Posts

bitcoin
Bitcoin (BTC) $ 67,453.07
ethereum
Ethereum (ETH) $ 3,756.09
tether
Tether (USDT) $ 0.999471
bnb
BNB (BNB) $ 594.85
solana
Solana (SOL) $ 168.10
staked-ether
Lido Staked Ether (STETH) $ 3,751.42
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.522023
dogecoin
Dogecoin (DOGE) $ 0.163328
shiba-inu
Shiba Inu (SHIB) $ 0.000027
cardano
Cardano (ADA) $ 0.451018
the-open-network
Toncoin (TON) $ 6.45
avalanche-2
Avalanche (AVAX) $ 36.35
chainlink
Chainlink (LINK) $ 18.56
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 67,443.07
polkadot
Polkadot (DOT) $ 7.16
tron
TRON (TRX) $ 0.111946
bitcoin-cash
Bitcoin Cash (BCH) $ 465.90
near
NEAR Protocol (NEAR) $ 7.60
uniswap
Uniswap (UNI) $ 10.50
matic-network
Polygon (MATIC) $ 0.715710
litecoin
Litecoin (LTC) $ 83.44
pepe
Pepe (PEPE) $ 0.000015
internet-computer
Internet Computer (ICP) $ 12.10
leo-token
LEO Token (LEO) $ 5.96
fetch-ai
Fetch.ai (FET) $ 2.19
dai
Dai (DAI) $ 0.999961
wrapped-eeth
Wrapped eETH (WEETH) $ 3,901.93
ethereum-classic
Ethereum Classic (ETC) $ 30.35
render-token
Render (RNDR) $ 10.22
aptos
Aptos (APT) $ 9.08
dogwifcoin
dogwifhat (WIF) $ 3.78
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 3,712.84
hedera-hashgraph
Hedera (HBAR) $ 0.103313
cosmos
Cosmos Hub (ATOM) $ 8.67
arbitrum
Arbitrum (ARB) $ 1.14
immutable-x
Immutable (IMX) $ 2.22
kaspa
Kaspa (KAS) $ 0.137654
mantle
Mantle (MNT) $ 0.995218
filecoin
Filecoin (FIL) $ 5.77
crypto-com-chain
Cronos (CRO) $ 0.116456
stellar
Stellar (XLM) $ 0.106778
first-digital-usd
First Digital USD (FDUSD) $ 0.999808
the-graph
The Graph (GRT) $ 0.309603
ethena-usde
Ethena USDe (USDE) $ 1.00
blockstack
Stacks (STX) $ 1.93
okb
OKB (OKB) $ 45.77
bittensor
Bittensor (TAO) $ 395.12
optimism
Optimism (OP) $ 2.50
floki
FLOKI (FLOKI) $ 0.000269