Visa made headlines not too long ago, after it’s been revealed that the head of crypto said that Bitcoin could see a boost from central bank digital currencies.
Cuy Sheffield, Visa’s head of crypto, recently said that the emergence of central bank digital currencies (CBDCs) would become a dominant trend in the future, as reported by the online publication the Daily Hodl.
1/ I’d argue that central bank digital currency (CBDC) is one of the most important trends for the future of money and payments over the next decade.
Regardless of anyone’s personal views of whether it’s good or bad, the reality is that global interest in it is not going away
— Cuy Sheffield (@cuysheffield) July 3, 2020
He continued and said:
3/ Therefore, if you are interested in any of the above, it’s worth closely following the active debate around if CBDCs should be created and how specifically they should be designed and implemented
— Cuy Sheffield (@cuysheffield) July 3, 2020
Visa lays out plan to support Bitcoin and the crypto space
Now, it;’s been just reported that Visa reveals its plan to support Bitcoin (BTC) and the crypto space in general.
In a new blog post, the payments giant said that it recognizes the role of digital assets in the future of money.
“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,” according to the notes.
Visa continued and explained that “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 like the US dollar.”
We recommend that you check out Visa’s complete announcement in order to learn all the details.
Visa is already making important moves in the crypto space and it’s working with crucial players such as Coinbase. The firm plans to extend its services to digital currency wallets via the FastTrack program.
