Visa discloses bitcoin and crypto banking roadmap within the race to reach a network of 70 million
CBW -External Analyst
Feb, 10 2021
After associating with 35 various Bitcoin and cryptocurrency platforms in recent years, the credit card company has publicized its plans to benefit banks, roll out bitcoin and cryptocurrency buying and trading services with a Visa crypto software platform, set to present later this year.
Visa has launched a Bitcoin and crypto APIs pilot program, set to launch late this year. Bitcoin and crypto custodian Anchorage, last month fetching the first U.S. national "digital asset bank" after it was decided approval for a national trust charter from the U.S. Office of the Comptroller of the Currency (OCC), will embrace the bitcoin and cryptocurrencies with regards of Visa's clients.
It is understood banks will be able to permit their users to pull out and self-custody their Bitcoin and cryptocurrencies.
Visa opponent PayPal PYPL -0.4%, which sparked the modern Bitcoin price high when it broadcast plans to permit its 346 million users to buy and spend Bitcoin and a handful of other major cryptocurrencies in October, appealed criticism for preventing people from moving their cryptocurrencies off its platform.
The Bitcoin price has flown around 200% since October, rolling to over $40,000 per Bitcoin before dropping back to some extent. The blistering Bitcoin rally has mainly been put down to institutional investors heating to the cryptocurrency and PayPal's care.
However, Bitcoin's growing acceptance among investors as a national asset and a hedge against inflation has reduced its perceived utility as an alternative payment technique.
The current Bitcoin price boom has catapulted Bitcoin and cryptocurrencies back to the lead of global consciousness, assisted by a return of paid-for celebrity crypto endorsements from the likes of performer Lindsay Lohan.
CBW - External Analyst
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