Crypto services

Crypto services to traditional banks in Brazil, Visa’s new project

To provide Crypto services to traditional banking platforms in Brazil is the new project of multinational payment giant, Visa, according to Visa’s vice president of new business in Brazil. The payment giant is also working with many crypto firms to bring crypto payment cards to the country, Brazil.

Crypto adoption is at its peak because today is the historic day when El Salvador has started using Bitcoin as its national currency. The interest of corporations is very important for the survival and growth of the crypto market. The trust of multinational companies always builds the trust of customers in the crypto market. Visa, the payment giant, is planning to link traditional banking to the crypto market for Crypto services.

Crypto services by Visa:

Cryptographic products and traditional banks will be merged by developing applications (APIs), according to Visa’s vice president of new business, Eduardo Abreu. He further said that system is already in the testing phase and it will increase transparency for the user of service in deposits and verifying payments.

Crypto services
Source: Twitter

This will allow users to invest in EFTs and the Crypto market without any third party. B2B (Business to Business) oriented Blockchain will be built for payment settlements among companies using smart contracts. The direct bitcoin payment system will also be tested for better Crypto services. Bitcoin payment will be directly transferred to other accounts which is much different from the existing system.

Visa also announced it is working with several national companies to issue cryptocurrency cards. Among these are Zro Bank, Alterbank, and Rippio, which will allow users to connect these to bank accounts. The Visa executive did not comment on a possible ETA for these developments.

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About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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