Visa’s head of crypto disputes report of company pausing crypto push

Visa’s head of crypto Cuy Sheffield described Reuters’ record that the payment titan was stopping its crypto endeavors as “inaccurate.”

In a Feb. 28 Twitter thread, Sheffield said the company has actually continued to companion with crypto companies to build new products. He said:

“We remain to companion with crypto business to boost fiat on as well as off ramps as well as progression on our product roadmap to construct new products that can promote stablecoin settlements in a safe and secure, certified, and practical method.”

Reuters reported that the settlement giant, along with its rival MasterCard, was stopping its crypto endeavors due to the current occasions in the industry.Sheffield kept in mind that

while the crypto market is presently faced with”obstacles and unpredictability,”Visa’s “sight has not altered that fiat-backed digital money working on public blockchains have the potential to play an important role in the settlements ecological community.”Stablecoin provider Circle’s CEO Jeremy Allaire stated that the area ought to not allow the “media FUD get out in advance

of truth. “He included:”We’re enjoyed be collaborating with market leaders such as Visa on leveraging payment stablecoins and USDC.” Sheffield urged anyone structure items in the junction of crypto and also payments to speak tohim.Meanwhile,

it was uncertain if Sheffield was talking on behalf of Visa. His Twitter take care of has a disclaimer stating,”

sights are my own.” Visa has scored several crypto partnerships over the past year. The firm has partnered with over

70 crypto firms, serving 80 million sellers globally.Posted In: Featured, Technology Most recent Report Can crypto reach 1 billion users by 2025? The crypto market could reach as much as 1.2 billion people by 2025 also if it expands at the most conventional price . Andjela Radmilac · 4 days ago Recent Visa Stories Visa, Mastercard to press back on crypto-related services