Binance exchange has achieved significant things in 2020 and it is now ending the year with a cryptocurrency-backed Visa payment card. This has made it to be among a few firms that are offering digital currency cards.
The rapid digitization of the world caused many players from the traditional finance sector to explore and adopt innovative solutions including cryptocurrency. In its turn, it has brought enough good news to the market to take Bitcoin price to new highs.
The global debit card issuance giant Visa is known for its interest in innovative finance. After having successfully launched its first blockchain-based initiative, the company has been working further on expanding its innovative projects.
The realm of traditional finance is in the vicinity of a transformation. As people seek for more convenient innovative alternatives, global payment giants are forced to explore these technologies to meet their users’ needs.
The Facebook Libra cryptocurrency project is constantly losing the backing of mainstream giants. The latest businesses to quit cooperation with this digital currency include Visa, Mastercard, eBay and Stripe following suit after Paypal announcement to quit cooperation as regulators move on with scrutinizing Libra.
A new type of mobile cryptocurrency exchange and a card paying service will soon be in vogue, as users will be granted access to use the Visa network to make transactions happen between cryptocurrencies and fiat.
The world’s giant financial and payment card firms Visa Inc. and MasterCard are trying to form a specialized team of digital asset experts or invest in venture firms, particularly in creating their private wallets. Mastercard Incorporated is seeking for professional blockchain engineers plus many other executives in the employment unit of its official website.
The United States based giant cryptocurrency exchange platform, Coinbase, has rolled out its Credit Card in Italy, a Visa card which a customer can use to pay in stores by drawing on his or her online digital currency portfolio.
Recently, we brought you the news about Facebook launching its own cryptocurrency, allegedly called Libra, by next year – others call it GlobalCoin. The news attracted the attention of some big names in the finance industry to come and support this disruptive initiative. Some of the giant companies willing and able to invest in the project include PayPal, Uber, Visa and MasterCard, and many other forward-thinking individuals are also interested. The official announcement from Facebook is expected soon. Facebook is expected to launch a whitepaper for its coin on June 18.