Visa (V) and Mastercard (MA) are moving quickly to embrace cryptocurrencies for payments to take advantage of the rising popularity of stablecoins in developing countries and fend off competition from merchants trying to circumvent their networks, reported The Information’s Yueqi Yang. The payment network giants have ramped up their crypto payments business overseas and have been looking for acquisitions or investments. Visa wants to invest in stablecoin startups, especially in infrastructure that can help increase the number of use cases for crypto payments, head of crypto at Visa, Cuy Sheffield, is quoted as having said in an interview.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on V:
- Visa reports Q3 adjusted EPS 7c vs. (4c) last year
- 3 High P/E Stocks with Strong Growth Potential – Amazon, Taiwan Semi, Visa
- Cash App announces upcoming pilot launch of Afterpay on Cash App Card
- ValueAct takes new stake in Toast, exits Expedia, boosts MongoDB stake
- Circle Stock (CRCL) Could Plunge Another 15%, Mizuho Cuts Price Target