Visa Inc Joins Mastercard, Others Accepting Cryptocurrencies

Visa Inc., one of the world’s biggest payments companies, on Monday announced it will start accepting and processing Cryptocurrency USD Coins due to its rising demand globally.

“We see increasing demand from consumers across the world to be able to access, hold and use digital currencies and we’re seeing demand from our clients to be able to build products that provide that access for consumers,” Cuy Sheffield, head of crypto at Visa, said.

According to Reuters, the company has launched the pilot program with payment and crypto platform, crypto.com.

Visa has now perfected plans to offer the option to more partners later this year.

The company joined other financial firms like Mastercard, BNY Mellon and BlackRock Inc that have started accepting cryptocurrency payment.

Last week, Elon Musk announced Tesla has started accepting Bitcoin as payment for vehicle purchases.

This series of announcements bolstered Bitcoin value from around $54,000 a coin to $58,000 on Monday with the possibility of retesting $61,000 a coin record high.