Visa has allowed several of the world's most prominent cryptocurrencies to settle credit card payments and debts in the online world, allowing people to pay with Bitcoin and ether which is a first in the industry, reported on Monday, March 29. Shortly after this, BTC and ETH-USD rose in stocks in the market, which gave unprecedented prominence to cryptocurrencies.
Pay an electronic fund service using a digital currency that is made for modern and future transactions. The world has now come to this, especially as one of the world's most popular credit card and electronic fund companies have acknowledged the use of cryptocurrencies to settle payments and charges for its services and transactions.
Before this, Visa is only accepting payments on a cash basis, particularly as it ties itself to banks to receive payments for credit cards and its other services that are available to the public. The prominence of cryptocurrencies is slowly rising in prominence, particularly with the entry of 2021 where people are investing in the digital currency's stocks.
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Visa Allows Cryptocurrency Payments with its Services
According to Reuters' recent report, Visa has recently announced that it is allowing the use of cryptocurrency to pay for its services, settle charges, and pay for debts within its platform. The transactions would credit Bitcoins and Ethereum's ether for the transaction, allowing a new breed of payment in this digital age.
Visa is most known for being one of the prominent and used electronic payment services in the world, also as one of the most recognized models of payment despite being anywhere at any given time. Currently, the service is up and running with its "pilot program" which can be used via the Crypto.com platform, which the company plans to expand in the future.
This is a massive recognition for cryptocurrency, particularly on two of the most popular digital money in the world, as Visa is a reputable company that is trusted for an adequate length in the industry. Visa is part of the different electronic payment methods that have moved forward with cryptocurrency including Mastercard Inc., BNY Mellon, and BlackRock Inc.
Bitcoin, Ether Massive Stock Rise After Visa Allowing Payments
According to Business Insider, the recent announcement of Visa has resulted in the growth of Bitcoin and Ethereum in the stock market, starting a trend of a massive rise in investments and stocks of the companies. The use of USD Coin (USDC) by Visa has started a rising trend for cryptocurrencies, which further uplifted its stocks.
Bitcoin (BTC) has recently reached a rise on its trend by 3.78 percent, trading at a massive $57, 835.41, while Ethereum (ETH-USD) rose a massive 9.96 percent at a massive $1,825.76 per stock. The trends are expected to rise in the following months, as most companies transition to allowing cryptocurrency to be used as payments in the current market.
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Written by Isaiah Alonzo
