According to reports, Visa aims to integrate Bitcoin payments in Brazil

in a Recent interview Together with local Brazilian news media Seu Dinheiro, Eduardo Abreu, vice president of new business for payment giant Visa, revealed that the company intends to integrate crypto assets on its platform for payment and value storage, including the leading cryptocurrency Bitcoin (Bitcoin).

As early as March 2021, the CEO of Visa Brazil, Fernando Teles, introduced the concept of using tokenized payment, And application programming interfaces or APIs designed to bridge the gap between traditional financial institutions and crypto services.

In the interview, Abreu shared his belief that wider adoption will require the integration of traditional banking activities into the cryptocurrency ecosystem so that customers can trade fiat and cryptocurrencies in the same environment.

Visa already offers 180 currencies on its platform and will seek to leverage its 170 million global customer base and fintech relationships with national banks Alterbank, Ripio and Zro to maximize adoption in the region.

There is no specific announcement about the release date, but it is generally expected to be released in the next few months.

“There is no doubt that the great advantage of using Bitcoin is its ease of use. There is no need to exchange fiat currencies, and transactions can be optimized using Bitcoin,” Abreu said.

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In addition to this service, Abreu also recommends that customers can get cash back through cryptocurrency:

“Brazilians already have a culture of receiving card points, miles, discounts, etc. Why not also use their credit cards to receive cryptocurrency?”

Visa is no stranger to making headlines in the cryptocurrency space. In order to shape its pioneer status as an intermediary between traditional and modern financial culture, Visa purchased a CryptoPunk non-fungible token avatar last month Is 50 ether (Ethereum) — 150,000 USD at the time of sale.