“We’re trying to do two things,” Kelly said. “One is to enable the purchase of bitcoin on Visa credentials.” The second, he added, is “working with bitcoin wallets to allow the bitcoin to be translated into a fiat currency” that can be immediately “used at any of the 70 million places around the world where Visa is accepted.”
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With new leadership and more financial giants entering crypto, the time for regulation is now says SEC Commissioner Hester Peirce (Photo: SEC)Clear crypto regulation urgent as big finance jumps in: SEC’s ‘Crypto Mom’
Securities and Exchange Commissioner Hester Pierce believes that giants such as Tesla and MasterCard using crypto make regulating this asset class urgent
Peirce pointed out that while “there have been calls for clarity for some time, a new administration brings the chance to take a fresh look, but it also is a moment where it seems others in the marketplace are also taking a fresh look.”
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Visa to pilot retail crypto trading service with Black-focused First Boulevard bank
Calling itself the ‘bridge between digital currencies’ and merchants,’ Visa said it aims to ‘level the playing field when it comes to access to new technologies’
Payment processing behemoth Visa has partnered with First Boulevard, an online bank focused on financial empowerment in the Black community, to test a new cryptocurrency offering for retail customers. During the test, Visa will attempt to determine how it can facilitate access to crypto assets and blockchain by financial institutions that lack purpose-built infrastructures.
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Visa teams up with USDC stablecoin
The payment processing giant will start collaborating with Circle to help credit card issuers integrate the USD Coin into their platforms to send and receive crypto payments.
Businesses will be able to send international USDC payments to any Visa-supported business. Still, before the funds can be spent they will need to be converted to fiat currency. USDC is back one to one with a U.S. dollar reserve, Circle says.
