Visa wants to improve cryptocurrency technology

Visa wants to improve cryptocurrency technology

Cuy Sheffield, Visa’s senior manager and head of crypto, said in a statement today that the global payment network Visa is accelerating its work on cryptocurrency payment technology and will include blockchain technology in its operations. Although the Visa manager did not mention a specific timeline for the project, he stated that research on this topic will continue until next year.

Sheffield also stated that Visa has been in close ties with central banks around the world for CBDCs, as they are gaining interest in recent times. Along the same lines Sheffield. He stated that Visa is also working to transfer the experiences of Visa to other companies. Visa wants other payment companies and banks to adapt to cryptocurrency technology as soon as possible.

The cryptocurrency chief also stated that Visa is also exploring the potential of offline digital currency payments and work on this issue will begin as soon as possible. Stating that central banks will be faced with factors affecting private companies that create stablecoins, Sheffield stated that the availability and flexibility of CBDCs is an important obstacle to launching such tokens.

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Source: VISA Wants To Improve Cryptocurrency Technology – Somag News