Visa, an international payment giant, has partnered with 35 of the world's leading digital currency platforms or digital wallets.These institutions are digital currency platforms licensed by the state or regulated by relevant departments, such as WireX, coinbase and fold, blockfi, bitpanda and debit card Crypto.com And so on.
Industry insiders said that the cooperation between visa and digital currency service providers enables consumers to convert digital currency faster and easier, and deposit these funds into their visa certificates in real time
This is not the first time visa has deployed digital currency. As early as 2019, visa invested in Anchorage, a cryptocurrency hosting service provider.
Anchorage has been exploring blockchain technology for many years and is a company dedicated to building a secure infrastructure for the digital currency ecosystem. Visa's investment in anchorage is regarded as a "small trial" in the field of digital currency.
Since then, visa's research team has continued to explore a number of innovations, including zether and flyclient.
According to the public information, zether protocol is a confidential payment mechanism, compatible with Ethereum and other intelligent contract platforms, aiming to increase a deeper level of anonymity for transactions. In May 2019, JPMorgan was optimistic about this Agreement and announced to apply it to its blockchain network. Flyclient is a technical framework that makes it easier for mobile devices to verify blockchain transactions.
In June, Facebook launched a new virtual cryptocurrency, Libra, in which visa also participated. Later, it withdrew because the five EU countries led by France joined hands to boycott Libra's entry into the market.
In May 2020, USPTO released information that visa submitted a patent application to create digital currency using blockchain technology. The patent is applicable to digital dollar and other digital currencies issued by central banks, such as pound sterling, Japanese yen and euro. This patent supports the digitization of the physical currency of any central bank in the world.
On July 22, 2020, visa published an article entitled "promoting digital currency - visa's vision of new digital currency payment process", which said that digital currency has the potential to expand the value of digital payment to more people and places. Therefore, visa hopes to help shape and support their role in the future currency.
As visa works with digital currency wallets, digital currency wallets are also seeking to take advantage of visa's full capabilities.
For example, by combining with visa's global network, visa direct can enable a wider range of consumers to convert digital currency faster and easier, and deposit these funds into their visa certificates in real time.
At present, in addition to visa, MasterCard, paypal and other international payment giants also have the layout of digital currency.
Recently, MasterCard said that it has cooperated with the Central Bank of the Bahamas to launch the world's first Bahamas prepaid card. The prepaid card enables people to immediately convert digital currency into traditional Bahamas dollars and pay for goods and services anywhere MasterCard supports. PayPal also said it would provide cryptocurrency services to the UK market in the coming months.