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- Global digital payment leader Visa is making moves within the crypto space to provide support, even after the presence of current regulatory anarchy.
- Cuy Sheffield, Visa’s crypto head, thinks that crypto is a “cool” commodity, as per an interview with a news channel.
- NFTs have seen a roaring success in the crypto market in 2021, as trade volume of NFTs was ground-breaking this year.
Visa in Admiration for Crypto
Global digital payment leader Visa is making moves within the crypto space to provide support, even after the presence of current regulatory anarchy. A worldwide crypto consultative practice was created by Visa to aid monetary institutions in developing their businesses associated with cryptocurrencies. Due to the rapid growth in demand for commodities associated with crypto, Visa and its administration are making their place robust according to the ecosystem of crypto.
Visa’s Crypto Head Thinks, the Digital asset is ‘Cool’
Cuy Sheffield, Visa’s crypto head, talked to a news channel lately in order to express his view on crypto assets, where the crypto head of Visa addressed digital assets as ‘Cool’. Crypto has placed itself on the convergence of culture and commerce, and it does so in such a mesmerizing way. Diversification part was also backed by Cuy Sheffield while talking regarding cryptocurrencies. The exec said that, “While crypto wallets were initially used primarily to store cryptocurrencies, people are now using them for things like discovering new music or art. Crypto wallets increasingly have the potential to become a super app, ingrained in consumers’ daily lives.”
More monetary organizations are getting attracted to the crypto world compared to the initial times of crypto. In the meantime, as per the latest global data, almost 40% of individuals possessing crypto will change primary banks to the ones offering crypto assets.
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Adding Non-Fungible Tokens to the Blend
Roaring success has been experienced by NFTs in the crypto market this year, as the trade volume of NFTs was ground-breaking in 2021 due to rapid growth of interest in the digital assets. More than a million dollars worth of crypto sales was experienced everyday by the crypto market. No wonder Visa is showing such admiration towards crypto.
As per Cuy Sheffield, NFt market is being monitored firmly by Visa. No wonder that NFTs are trending and developing rapidly, while more individuals are getting connected to the trend. “NFTs have the potential to become a powerful accelerator for the creator economy and lower the barrier to entry for individual creatives to earn a living through digital commerce,” said Cuy Sheffield. Visa’s crypto head added that, “It could also fuel small and medium-sized businesses (SMBs) in powerful new ways. The rise of e-commerce has made it possible for SMBs to sell online and reach customers around the globe. NFTs allow small businesses to harness public blockchains for producing digital goods—which can be delivered instantly to a crypto wallet.”
Cuy Sheffield also forecasted that the crypto addresses will become as crucial as the email addresses now. Visa has also purchased NFTs worth $150,000, as it might prove an essential player in the retail sector, entertainment industry, commerce as well as social media.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
