#DigitalCurrency / For Visa, digital currency means new opportunity to add value to the ecosystem

Digital currencies are one avenue where Visa is gaining ground…

The concept of digital currency – or a digital version of cash controlled by a private key – was created more than a decade ago, with the launch of Bitcoin. Today, fiat-backed digital currencies, commonly referred to as “stablecoins,” have emerged as a promising new payment innovation, combining the benefits of digital currencies with the stability of existing currencies… It’s a concept that is gaining traction beyond fintechs, and now includes financial institutions and central banks. Consumers and businesses are also adopting digital currencies and circulation is growing rapidly, reaching over $10 billion in May.

Visa has been working closely with licensed and regulated digital currency platforms like Coinbase and Fold to provide a bridge between digital currencies and our existing global network of 61 million merchants. Around the world, more than 25 digital currency wallets have linked their services to Visa, giving users an easy way to spend from their digital currency balance using a Visa debit or prepaid credential…

Through these efforts, Visa has become the preferred network for digital currency wallets, which are eager to deepen their value to users by making it quicker and easier to spend digital currency worldwide.

https://tearsheet.co/sponsored-by-visa/for-visa-digital-currency-means-new-opportunity-to-add-value-to-the-ecosystem/