Visa reports that crypto spending in the first half of 2021 exceeds $1 billion

The company stated in its latest crypto update that the global payment giant Visa will continue to support the development and adoption of the cryptocurrency industry as part of its business.

In an official statement on Wednesday, Visa Announce The total expenditure processed by its encryption card in the first half of 2021 exceeded US$1 billion.

The company pointed out that Visa is working with 50 major companies in the crypto industry and the crypto card program to enable users to convert and consume digital currencies at 70 million merchants worldwide. Given the scale of spending on Visa’s encryption-related cards, the company stated, “It is clear that the encryption community sees the value of connecting digital currencies to Visa’s global network.”

Visa emphasized that its digital currency support does not require global merchants to accept cryptocurrencies such as Bitcoin (Bitcoin) Although direct.As previously reported, Visa has been cooperating with major cryptocurrency companies such as cryptocurrency trading platform Crypto.com to Enabling an encrypted settlement system for fiat transactionsThe company also works closely with other major cryptocurrency companies such as FTX Exchange, Coinbase, and CoinZoom.

The company also stated that stablecoins-cryptocurrencies linked to the value of other assets or fiat currencies (such as the U.S. dollar)-are “starting to deliver on the promise of digital fiat currencies”, outlining its developer-friendly features and fiat currencies Reliability. Supporting reserves. “Stablecoins are expected to become an important part of the broader digital transformation of financial services, and Visa is pleased to help shape and support this development,” the company wrote, adding:

“We have been busy with Visa, connecting the encrypted economy to our’network’. This strategy aims to add value to all forms of capital flows, whether on the Visa network or other networks.”

related: BlockFi begins shipping Visa-supported bitcoin reward credit cards

As one of the world’s largest payment companies, Visa took a big step into the crypto industry last year, cooperating with Goldman Sachs-backed blockchain company Circle to manufacture its U.S. dollar coins (USDC) Stable coins compatible with certain credit cards. The company has since Reiterate its commitment To the entrance of encrypted payment and legal currency, and it pays special attention to the integration based on stable currency.