Visa has started a crypto consulting service and invested in crypto platforms as part of a push for digital currency adoption.
Visa said during its recent earnings call that customers made $2.5 billion in payments with its crypto-linked cards in its fiscal first quarter of 2022.
That was 70% of the company’s crypto volume for all of fiscal 2021.
“To us, this signals that consumers see utility in having a Visa card linked to an account at a crypto platform. There’s value in being able to access that liquidity, to fund purchases and manage expenses, and to do so instantly and seamlessly,” Visa CFO Vasant Prabhu told CNBC in a phone interview, providing insight as the company reported better-than-expected earnings and revenue after the bell Thursday.
This article was originally posted by Frank Holland for CNBC. Please read the full article here.
