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.
Visa has announced that it is entering a $125 trillion market using blockchain to carry out these particular payments in the fastest, most economical and most transparent way ever. The blockchain and cryptocurrency industry is among the most lucrative businesses in the world, and this is the reason why popular companies, institutions or people with a big impact on the world’s economy are not hesitating to take advantage of any opportunity available.
Visa and Western Union have concluded a new agreement that will bring the fintech, digital currency and blockchain industry to the mainstream. However, one of Top-3 coins, Ripple, could potentially suffer from this.
Coinbase seeks to change the face of cryptos including Bitcoin (BTC), the leading cryptocurrency by market cap (MC). The crypto exchange bull headquartered in San Francisco, California, have rolled out a visa debit card that enables users in the European Union (EU) and the UK to spend cryptocurrencies instantly from their accounts. Currently, the company has over 13 million users worldwide.