7/7, 1:34 PM (Source: TeleTrader)
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Chart for: Visa Inc

Visa: Crypto-linked cards usage over $1B in H121

Visa Inc. Chief Financial Officer (CFO) Vasant Prabhu stated on Wednesday that the value of cryptocurrencies spent via the company's specialized cards exceeded $1 billion in the first half of 2021, the first time such an amount was disbursed in a six-month period.

"We are doing a lot to create an ecosystem that makes cryptocurrency more usable and more like any other currency," Prabhu told CNBC. "We see a lot of volume on our [network] of people buying cryptocurrencies at these various regulated exchanges and, as far as we can see, that trend continues."

The news comes shortly after Visa partnered with Blockchain Capital with the goal of investing in blockchain technologies and crypto-assets. Meanwhile, the company acquired the financial technology firm Tink.

Baha Breaking the News (BBN) / JR