The use of cryptocurrency is entering everyday lives of man gradually. However, there’s still a long way to go in ensuring that it penetrates fully. Visa is working towards this in Brazil.
Eduardo Abreu, Visa’s Vice-president in Brazil, had an interview with a media outlet where he explained the plan of the company pioneering integration of crypto payment of into the Brazilian economy.
Eduardo called the attention of everyone to the lag between the traditional financial institutions and crypto products. Therefore, the company is looking into creating a card that will serve this purpose. These cards may also have the possibility of receiving “cashback in crypto.”
For this to be a reality, the Vice-president of Visa commented that the company would create an API which would serve as a digital infrastructure to unite the traditional banks with crypto products.
He said this would give a better user experience because users can buy digital assets within the same platform. So far, Visa is in talks with three Brazilian banks; namely, Alterbank, Zro Bank, and Rippio.
Additionally, Visa has some plans about a strictly B2B Bitcoin payment platform for merchants and an NFT platform. However, Eduardo said these projects and products have not been launched and it might take a while. He did not, however, specifically mention when it would be done with it.
“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,” he said.