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Visa Plans To Provide Crypto Services To Traditional Banks In Brazil

Anna Martynova

International payments giant Visa has announced plans to integrate cryptocurrency solutions into traditional banking platforms. Visa's vice president in Brazil said the company plans to develop applications (APIs) to combine traditional banks with crypto products. As a result, it will be possible to invest in cryptocurrencies and ETFs on banking platforms without intermediaries.

Visa is also working on a B2B blockchain to enable settlement of payments between companies using smart contracts. The vice president of Visa in Brazil said the system is already in the testing phase.

Visa plans to test direct bitcoin payments in Brazil. Transactions will allow customers to directly transfer bitcoins to other accounts. Direct bitcoin payments will simplify the payment process and eliminate intermediaries. The CEO of Visa in Brazil said he plans to implement this feature as early as this year.

Image: Forbes

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