Visa reports over US$1 billion spending on crypto in the first half 2021

Visa connects crypto economy to its network, enabling customers to spend cryptocurrency at 70 million merchants worldwide and convert fiat money into stablecoins by partnering with 50 crypto companies. Visa announced on Wednesday that their crypto-linked cards have recorded over US$1 billion spending in crypto in the first half of 2021. “it’s clear that the crypto community sees value in linking digital currencies to Visa’s global network.” stated in the announcement.

In March, Visa announced their plan to cooperate with cryptocurrency platform to pilot a cryptocurrency settlement system, allowing partners to use the Ethereum network to settle cryptocurrency transactions with stablecoin USDC, and will offer to more partners within this year.

Besides, the Berlin-based neobank N26 is working with cryptocurrency exchange to offer crypto trading services by this year. “It is our aim to become the one-stop-app for our customer’s finances. We want customers to be able to access all of their financial services in one place, without having to sign-in through several different places. This will include saving products, loans, trading, taxes and crypto,” the spokesperson told The Block.

TideBit is a leading crypto asset exchange supporting fiat currency.