VISA connection with crypto bearing fruit

In February Visa announced its plans of introducing crypto to its network.

Since then it partnered with over 50 crypto platforms like FTX or Coinbase to issue cards allowing to easily convert and spend crypto at over 70 M merchants of Visa network.

With Crypto. com Visa is working on a fiat settlement system via crypto, allowing partners to exchange USDC stablecoins on Ethereum.

It developed cashback programs like the one with BlockFi, where users spend fiat money and earn crypto rewards.

How is all that doing now? Visa reported over $1 Bn spent so far with crypto-linked Visa cards – a good sign for the global crypto adoption.