Global payments giant Visa denies the report served by Reuters that the company will halt its crypto plans
Visa, in a statement, announced that it is determined to invest in the sector and support the technology despite the negativities in the crypto sector.
In the news served by Reuters yesterday, it was reported that Visa and Mastercard have recently reconsidered their crypto investments after the bankruptcy of FTX and will suspend their plans in this area.
Speaking to Coindesk, the Visa official said that such a situation does not exist. The official stated that the problems in the crypto space did not cause a change in the company’s crypto strategy and their intentions to act as a bridge between traditional markets and crypto markets continue.
In addition, Visa’s Head of Crypto Cuy Sheffield said on Twitter that the news that the company wants to stop its partnerships with crypto companies is not true and that Visa will continue to establish partnerships with crypto companies. Sheffield emphasized that despite all the negativities, the views that fiat-backed cryptocurrencies operating on public blockchain networks have significant potential in the payments system have not changed.
While a similar statement came from Mastercard, the company official said that they will continue to work with crypto companies to implement payment solutions and various programs.