In late March, Visa announced that it would begin accepting payments in the cryptocurrency USD Coin directly. 1 Visa's press release came on the heels of Mastercard's recent announcement that it would soon begin facilitating crypto transactions. Visa is now directly accepting payments in USD Coin, a cryptocurrency.
In its publication, VISA acknowledges that the advent of Bitcoin and stablecoins such as Tether are a form of financial innovation that has brought benefits to consumers and merchants. In that sense, they highlight the rapid expansion that cryptocurrencies have reached as a payment method.
Payments giant VISA made public its efforts to incorporate cryptocurrencies such as Bitcoin (BTC) into its payments network. With access to over 61 million merchants globally, VISA is one of the largest payment companies to create a roadmap for adopting cryptocurrencies on its platform.
Payments giants Visa, Mastercard and PayPal have had a rocky relationship with bitcoin and cryptocurrencies in recent years (though have been softening their stances for some time ).