Visa Allegedly Looking To Integrate Crypto Payments In Brazil

In a recent interview with local Brazilian news outlet Seu Dinheiro, the VP of new business at payments firm Visa, Eduardo Abreu, divulged the organisation’s intentions to integrate virtual currencies onto its platform for both payments and as a store of value, including the largest virtual asset by market cap, Bitcoin.

In the aforementioned interview, Abreu put forward his opinion that greater adoption will need the integration of traditional banking activity within the virtual asset ecosystem so that customers can transact with fiat and cryptocurrency within the same environment.

As to the date of the launch, there was no specific announcement. However, it is widely anticipated in the imminent months.

Abreu mentioned,

“The great advantage of adopting Bitcoin is, without a doubt, its ease. Without needing to exchange a fiat currency, there is an optimization of exchanges when using Bitcoin.”

Apart from that, Abreu also proposed the likelihood of customers receiving cashback in terms of digital assets. He said,

“Brazilians already have the culture of receiving card points, miles, discounts, etc. Why not receive cryptocurrencies with their credit card as well?”

Notably, Visa is no stranger to making headlines in the digital asset domain. In a bid to depict its pioneer reputation as a cultural mediator of traditional and modern finance, Visa last month bought a CryptoPunk NFT avatar for fifty ETH, which is around one hundred and fifty thousand dollars, at the time of sale.