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Visa Gears Up for Cryptocurrency Integration in Brazil

Visa Gears Up for Cryptocurrency Integration in Brazil
  • Visa expressed its intention of accepting bitcoin payments in Brazil
  • Visa announced it would take its cryptocurrency services to traditional banks in Brazil.

Visa expressed its intention of accepting bitcoin payments in Brazil. The global payments technology company, Visa, has announced it would take its cryptocurrency services to traditional banks in Brazil.

According to Visa, it is working with many crypto companies to bring digital payment cards to the Brazilian market. Also, the company mentioned a possible direct integration of Bitcoin (BTC) in payments.

The firms Visa is working with include Alterbank, Zro Bank, and Rippio, which will let users connect their cryptocurrency cards to bank accounts.

Following that, Eduardo Abreu, Visa’s vice president of new business in Brazil, said,

The company has plans to develop applications (APIs) to unite traditional banks with cryptographic products. In this way, it would be possible to make investments in cryptocurrencies and ETFs within banking platforms with no intermediates.

In addition, the adoption of bitcoin is not new for Visa. The company already runs with 180 various currencies. Also, it has over 70 million businesses worldwide.

The idea now is to bring security expertise to the world of cryptocurrencies,- Eduardo Abreu added.

Based on reports, Visa said it is working on a B2B oriented blockchain that will enable payment contracts among firms using smart contracts. Moreover, Abreu added that the system was already in the testing stages with some of their customers. However, Visa said it would comment on this regard in the future.

Two days ago, Visa announced a partnership with crypto exchangers and operators, in hopes to adjust seamlessly to the crypto market. A few months back, Visa stated its partnership with Coinbase, Binance, Crypto.com, and other exchanges.

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Roland Guirdonan can be found writing, developing, and designing all sorts of content. Aside from his fascination with content creation, he is also passionate about blockchain and cryptocurrency developments.