• Latest
Visa is Entering The Crypto Space, invests Heavily in Custodial Services

Visa is Entering The Crypto Space, invests Heavily in Custodial Services

July 12, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Alt Coin

Visa is Entering The Crypto Space, invests Heavily in Custodial Services

coinnewsdaily by coinnewsdaily
July 12, 2019
in Alt Coin
0
Visa is Entering The Crypto Space, invests Heavily in Custodial Services
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022

As the crypto revolution has moved forward, the major credit card companies have maintained a curiously low-key approach to its evolution. Now, Visa appears ready to enter the space, having recently made significant investments in blockchain startups, and revealing plans to offer financial services that utilize the technology. These moves are a clear sign that the world’s largest payment network has accepted the fact that cryptocurrencies are now a permanent element of the global financial landscape.

Visa has not entirely ignored the evolution of cryptocurrencies. It has followed their development closely, and has filed for a number of blockchain-related patents. However, it is no secret that it, along with other payment processors, do not support their use. Most notably, purchasing cryptocurrency, such as Bitcoin, with Visa cards is restricted in much of the world, and classified as “high risk” where permitted. Also, the company has been reluctant to work with exchanges and wallets to create crypto-linked debit cards, although in a few instances such cards have been issued.

Now, Visa may be changing its position. It has just announced a $40 million investment in Anchorage, a blockchain startup specializing in crypto custody. Anchorage intends to create custody solutions that go beyond mere cold storage, but also give clients greater flexibility in how their funds are managed. Perhaps Visa intends to play a role in this process.

Earlier this year Visa also announced the launch of B2B Connect, a blockchain-based international payment service. Similar to Ripple’s xRapid or IBM’s Stellar-based Blockchain World Wire, B2B Connect will facilitate cross border fiat transfers, focusing on business clients. Rather than use a public blockchain, Visa’s service will utilize Hyperledger Fabric. Visa is known to be collaborating with IBM on the platform, which is curious given Big Blue’s own foray into this sector.

The extent to which Visa can succeed with these new ventures is subject to debate. Critics have long asserted that custody solutions are an unnecessary and costly service that offer little extra security to the task of storing cryptocurrency. Also, the long-term viability of fiat transfer services has long-been questioned by crypto purists, as mass adoption may render fiat obsolete. Nevertheless, Visa brings a level of unquestioned experience and trust to these emerging business applications that could make all the difference in the eyes of a skeptical public.

There is thus the very real fact that Visa’s entry into the crypto space is adding a degree of legitimacy to the reputation of blockchain assets. Regardless of whether or not it succeeds with its current plans, Visa’s move is one more indication that traditional financial institutions are taking distributed ledger technology seriously.

Most notably, Visa executives clearly understand the threat cryptocurrency poses to their core business model of facilitating electronic debit and credit card payments. Soon crypto options will be available on virtually every point-of-sale terminal on the globe. Merchants will encourage their use to avoid paying Visa’s costly transaction fees. Although Visa has yet to create a clear response to this challenge, perhaps these new offerings indicate that the company understands that it must find new revenue sources if it expects to survive long-term.

Tags: Alt CoinAltcoincustody solutionsIBMpayment networkpayment processorsVISA
Share76Tweet48
Previous Post

Ethereum-Based Augur Enhancement App Veil Closes Up Shop

Next Post

Brazilian State Launches Blockchain Platform for Government Contract Bids

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum
Alt Coin

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin
Alt Coin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
things you should know before investing in nfts
Alt Coin

Things You Should Know Before Investing in NFTs

April 24, 2022
Load More
Next Post
Brazilian State Launches Blockchain Platform for Government Contract Bids

Brazilian State Launches Blockchain Platform for Government Contract Bids

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$23,121.001.36%
  • ethereumEthereum(ETH)$1,597.851.63%
  • tetherTether(USDT)$1.000.03%
  • binancecoinBNB(BNB)$307.821.84%
  • rippleXRP(XRP)$0.4123561.68%
  • cardanoCardano(ADA)$0.3907634.59%
  • dogecoinDogecoin(DOGE)$0.0878583.50%
  • matic-networkPolygon(MATIC)$1.156.42%
  • okbOKB(OKB)$37.906.20%
  • solanaSolana(SOL)$24.493.00%
  • polkadotPolkadot(DOT)$6.593.56%
  • shiba-inuShiba Inu(SHIB)$0.0000123.06%
  • litecoinLitecoin(LTC)$88.542.26%
  • tronTRON(TRX)$0.0631882.65%
  • daiDai(DAI)$1.000.01%
  • cosmosCosmos Hub(ATOM)$13.716.18%
  • leo-tokenLEO Token(LEO)$3.987.09%
  • chainlinkChainlink(LINK)$7.435.21%
  • moneroMonero(XMR)$180.176.31%
  • ethereum-classicEthereum Classic(ETC)$22.012.80%
  • bitcoin-cashBitcoin Cash(BCH)$134.110.74%
  • stellarStellar(XLM)$0.0933622.59%
  • crypto-com-chainCronos(CRO)$0.0820813.49%
  • filecoinFilecoin(FIL)$5.452.27%
  • algorandAlgorand(ALGO)$0.2617918.08%
  • vechainVeChain(VET)$0.0247705.56%
  • internet-computerInternet Computer(ICP)$6.025.49%
  • aaveAave(AAVE)$87.290.93%
  • eosEOS(EOS)$1.111.29%
  • theta-tokenTheta Network(THETA)$1.117.29%
  • elrond-erd-2MultiversX(EGLD)$45.074.23%
  • tezosTezos(XTZ)$1.146.01%
  • paxos-standardPax Dollar(USDP)$1.000.17%
  • bitcoin-cash-svBitcoin SV(BSV)$44.28-0.97%
  • huobi-tokenHuobi(HT)$5.070.88%
  • havvenSynthetix Network(SNX)$2.516.30%
  • pancakeswap-tokenPancakeSwap(CAKE)$4.012.22%
  • iotaIOTA(MIOTA)$0.2432897.12%
  • makerMaker(MKR)$684.255.97%
  • zcashZcash(ZEC)$46.421.43%
  • neoNEO(NEO)$8.343.44%
  • dashDash(DASH)$51.542.53%
  • zilliqaZilliqa(ZIL)$0.0302049.79%
  • basic-attention-tokenBasic Attention(BAT)$0.2706085.56%
  • compound-governance-tokenCompound(COMP)$57.148.44%
  • nemNEM(XEM)$0.0397934.60%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • kusamaKusama(KSM)$37.158.99%
  • bitcoin-goldBitcoin Gold(BTG)$17.48-0.06%
  • qtumQtum(QTUM)$2.714.69%
  • wavesWaves(WAVES)$2.7315.83%
  • sushiSushi(SUSHI)$1.354.23%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • golemGolem(GLM)$0.2532591.64%
  • yearn-financeyearn.finance(YFI)$7,631.822.73%
  • omisegoOMG Network(OMG)$1.535.76%
  • ontologyOntology(ONT)$0.2211993.51%
  • digibyteDigiByte(DGB)$0.0111100.84%
  • umaUMA(UMA)$2.072.39%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%