Visa plans to activate Bitcoin payments for 70 million merchants

Visa intends to follow in its footsteps PayPal and adopt Bitcoin payments as well.

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The company’s chief executive, Alfred Kelly, said in a podcast that the payment processing company is willing to facilitate not only bitcoin purchases but also operating costs.

“We’re trying to do two things. One is to activate the Bitcoin market with Visa credentials. And, secondly, to work with Bitcoin wallets to allow Bitcoin to be ”translated” into a fiat currency and therefore be used in any of the 70 million locations around the world where Visa is accepted.”

According to Kelly, Visa is working to gain its role as an intermediary in financial transactions, even after Bitcoin has a broader adoption. In addition to Bitcoin, the company also aims to allow the use of stablecoin.

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He admitted that the company recognizes ”a strong potential for them to evolve into a new payment vehicle”

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