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VISA Reveals Plans to Offer Bitcoin, Ethereum, Ripple Payments

Payments giant VISA made public its efforts to incorporate cryptocurrencies such as Bitcoin (BTC) into its payments network. With access to over 61 million merchants globally, VISA is one of the largest payment companies to create a roadmap for adopting cryptocurrencies on its platform.

In its publication, VISA acknowledges that the advent of Bitcoin and stablecoins such as Tether are a form of financial innovation that has brought benefits to consumers and merchants. In that sense, they highlight the rapid expansion that cryptocurrencies have reached as a payment method. In May of this year, circulation with cryptocurrencies reached $10 billion.

The payment company said it has been working with regulated entities, including Coinbase and Fold, to create a bridge between digital currencies and its payment network. As a result, 25 crypto wallets are linked to the services offered by VISA. This way, users of these services can use their funds in cryptocurrencies to spend them with VISA cards or a prepaid credential.

The payment giant revealed that users with cryptocurrencies utilizing this service could start using Visa Direct. This product allows consumers to make faster payments with cryptocurrencies that can be added to their Visa credentials, in real time. 

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