Visa, Mastercard and PayPal are changing their tune on Bitcoin and Crypto
Payments giants Visa, Mastercard and PayPal have had a rocky relationship with bitcoin and cryptocurrencies in recent years (though have been softening their stances for some time).
In 2018, all three companies cracked down on bitcoin and cryptocurrency transactions in the wake of bitcoin’s massive 2017 bull run that thrust cryptocurrencies into the global limelight.
Now, with the likes of social media giant Facebook and Wall Street stalwarts including JPMorgan embracing cryptocurrencies, Visa, Mastercard and PayPal are gearing up to drive the next wave of bitcoin and crypto development and adoption.
“The concept of digital currency—or a digital version of cash controlled by a private key—was created more than a decade ago, with the launch of bitcoin,” Visa wrote this week in a blog post titled “Advancing our approach to digital currency.”
“We believe that digital currencies have the potential to extend the value of digital payments to a greater number of people and places. As such, we want to help shape and support the role they play in the future of money.”
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