Cryptocurrency

Visa activates the development of projects in the field of cryptocurrency

Payment giant Visa plans to redouble its efforts to “shape and support the role of cryptocurrencies in the future of money” and will soon announce new projects.

According to the article in the Visa blog, three key objectives will now be in charge of the company’s strategy in the direction of digital currency. The company will maintain strong data protection standards, remain independent of a specific network and cryptocurrency, and will cooperate with cryptocurrency projects, the principles of which are consistent with the company’s goals.

Already a bridge between the cryptocurrency industry and traditional finance for many merchants, Visa believes its digital currency partnerships are critical to preserving the legacy of “six decades of innovation.”

“Leveraging this legacy over the next decades requires constant innovation and collaboration with the public and private sector,” says Visa.

The company mentioned its partnership with Coinbase and its investment in crypto custodian Anchorage. Visa also said its research team had an impact on the Zether and FlyClient cryptocurrency projects.

According to a blog post, Visa is working directly with policymakers and non-governmental organizations to “help create a dialogue” on digital currencies, including developing the concept of a government cryptocurrency. More announcements regarding cryptocurrency projects will appear in the coming months.

Recall that in May, Visa filed a patent application for a “digital fiat currency” that will have the advantages of cryptocurrencies, but be issued by a “centralized authority.” In addition, back last summer, Visa  launched a  blockchain-based payment service for corporate clients, first announced in October 2016.

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