Home » Visa Is Ready To Get More Involved In The Crypto Space After Its Recent Investment In CryptoPunk

Visa Is Ready To Get More Involved In The Crypto Space After Its Recent Investment In CryptoPunk

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Considering two recent trademark filings, major credit card provider Visa may be looking into digital wallet services.


The Visa International Service Association issued a notice to the United States Patent and Trademark Office (USPTO) on October 22, 2018, “View, access, store, monitor, manage, trade, transmit, receive, and transmit cryptographic assets and non-fungible tokens (NFTs).” ,To exchange.

Additionally, the documents allude that the credit card company may be considering foraying into the Metaverse, the name being used for “virtual environments in which users can interact for recreational, leisure, or entertainment purposes.” increase.

According to Mike Kondoudis, “VISA has filed two trademark applications claiming plans to: manage digital, virtual, and cryptocurrency transactions; digital currency + cryptocurrency wallet; NFT + virtual goods; Offers… and more #NFT #Metaverse #Web3 #Virtual Currency”
By some estimates, there are over 1 billion Visa cards in use worldwide. The business previously worked with crypto businesses to offer credit and debit cards linked to crypto payments. In 2019, there were 45 billion general purpose credit card transactions in the United States (based on cards issued by four major networks: Visa, Mastercard, American Express and Discover), with a combined transaction volume of nearly $4 trillion had.
In 2019, the four major networks issued 45 billion credit card transactions, totaling nearly $4 trillion. The trademark registration came after Mastercard filed with the USPTO in April for his use of the logo on NFTs and the Metaverse. Earlier this month, Cuy Sheffield, head of Visa’s cryptocurrency division, said that global acceptance is necessary for crypto adoption to continue to grow. On October 25, Visa’s main competitor, Mastercard, announced a strategic partnership with BitOasis, a leading crypto platform in the Middle East and North Africa (MENA), aimed at boosting the adoption of digital assets. Starts a series of crypto card programs with region.
The credit card business recently launched a series of staged excursions into cryptocurrencies. Visa announced that in March 2021, he plans to launch a pilot program that will allow partners to settle fiat transactions using his USD Coin.
The company invested $150,000 to purchase CryptoPunk in August 2021 in order to “first-hand understand the infrastructure requirements for global brands to purchase, store and leverage NFTs.”
The writer is the founder of yMedia. He embarked on cryptocurrency in his 2013 and is an ETH maximalist. twitter: @bhardwajshash

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