Payment Giant Visa Seeks to Integrate Bitcoin Payments in Brazil

Eva Fox by Eva Fox September 10, 2021

Payment Giant Visa Seeks to Integrate Bitcoin Payments in Brazil

Visa Brazil executives have announced that they are planning to introduce crypto assets, such as Bitcoin, into their payment platform in the region.

Back in March 2021, Visa Brazil CEO Fernando Teles unveiled the concept of accepting tokenized payments, as well as an application programming interface (API) designed to bridge the gap between traditional financial institutions and crypto services.

Now, in a recent interview with local Brazilian news outlet Seu Dinheiro, Eduardo Abreu, VP of new business at payment giant Visa, spoke about the company's intentions to integrate crypto assets into its platform for both payments and store of value, according to Cointelegraph.

Abreu said broader adoption will require the integration of traditional banking into the cryptocurrency ecosystem so that customers can transact fiat and crypto in the same environment. This will provide ease of use and users will be able to positively accept all the changes that are taking place now.

Visa already offers 180 currencies on its platform and will seek to leverage its global client base and established fintech relationships with national banks Alterbank, Ripio, and Zro for maximum adoption in the region. While no exact launch date has been announced, it is expected to happen in the coming months.

“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,” said Abreu.

© 2021, Eva Fox | Tesmanian. All rights reserved.


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Article edited by @SmokeyShorts, you can follow him on Twitter

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