Visa Announces Interest in Cryptos is Falling
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July 29, 2021

The general hype around the cryptocurrency market is starting to decline, Bloomberg has reported citing a report from Visa. According to Visa CFO Vasant Prabhu, interest in cryptocurrencies started to fall in June this year. The highest interest was seen during the Bitcoin rally recorded between April and May, he has noted.

However, the drop in interest around cryptos has hardly affected transaction activity at the payments company itself. According to it, during the third quarter payment volume at Visa jumped 34% to $2.7 trillion. The volume of cross-border transfers increased even more (by 56%).

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Visa announced in March this year it has plans to use the stablecoin USDC on the Ethereum blockchain to transact payments on its network. To this end, Visa has launched a pilot program in collaboration with the service Digital bank Anchorage is also taking part in the project.

Visa plans increase the number of partners by the end of the year after consultation with customers, investors and regulators.

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