VISA increasingly interested in the cryptographic world

Cuy Sheffield, head of Visa's cryptocurrency division called cryptocurrency a "cool" asset. He explained this to a New Delhi TV reporter, saying that digital currencies now attract more financial companies than before. About 40% of those who own cryptocurrencies are willing to leave regular banks and start using those that offer products based on digital currencies. Sheffield also pointed out that the crypto sphere has expanded significantly in recent years, from simple investments and payments to discovering new pieces of music and art. He believes that when mobile apps dealing with cryptocurrencies are firmly integrated into consumers' daily lives, they certainly have the potential to become “super apps”.

According to Sheffield, Visa is closely monitoring the NFT sphere at the moment, as it has become a rapidly developing and growing trend with more and more users joining this frenzy. Sheffield believes that small and medium-sized businesses have the potential to benefit from non-fungible tokens and in ways that havent been used before. NFTs allow companies to produce and sell digital goods at low upfront costs, and these goods can be sent instantly to users' digital wallets. The chief of cryptography at Visa also believes that, in the future, a user's cryptographic address and an email address will be of similar value and importance. Visa recently bought $ 150,000 worth of NFTs. The company believes that non-fungible tokens will begin to play an important role in the retail, social media, commerce and entertainment sectors. Additionally, the number of partnerships the payment processing giant has signed with crypto companies has recently jumped to 60 by now.