Visa Processed $2.5B in Crypto Transfers in First Fiscal Quarter of 2022

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Al Kelly, CEO of Visa Financial Corporation, has said that in the first fiscal quarter of 2022 (October to December 2021), the company processed $2.5 billion worth of cryptocurrency transactions.

In the first trimester, the volume of digital asset transactions has already reached 70% of the figure recorded for the entire fiscal year 2021. The positive trend is due to the fact that Visa has signed contracts with more than 65 crypto platforms and started to provide services to their customers. Moreover, already almost 100 million commercial enterprises allow paying for their services and goods with Visa crypto cards. Kelly added:

“We will continue to cooperate with the crypto industry. Our business strategy is to become a key partner of the digital asset industry and provide opportunities for connecting services, scaling, launching profitable offers for consumers, ensuring reliable and secure operation. This is necessary for the development of the field of virtual currencies.”

Al has noted Visa has no plans to buy cryptos. The reluctance of the firm to invest in digital currencies and tokens is reportedly due to the high risk associated with the high level of volatility of digital assets.

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