Digital currency is the future! Visa: Continuously engaging in dialogue with regulators to assist and support cryptocurrencies in reshaping payment methods.

The global payment giant Visa published a lengthy article on its official blog on the 22nd, titled "Visa's Outlook on the Future of New Digital Currency Payments", discussing a series of arguments on how digital currencies are reshaping innovative payments. Visa is extremely optimistic about the future of digital currencies, claiming to continue strategic deployment and expand the value of digital payments globally.

Redefining the Way Global Money Moves

Visa believes that as a global payment giant, it should provide the maximum value to the global public, businesses, and economies without being limited by currency, transfer methods, or any other factors. Therefore, it is working to reshape the pathways of money flow, and in this realm, digital currencies have paved the way for Visa's expansion. The article points out:

With the emergence of Bitcoin a decade ago, the concept of digital currencies (digital cash controlled by private keys) has emerged. Stablecoins have become a more promising payment method, combining the advantages of digital currencies with the stability of fiat currencies such as the US dollar, transcending the existing fintech realm and gaining attention. Financial institutions, central banks, businesses, and consumers are all using digital currencies, and the market capitalization of stablecoins exceeded $10 billion in May.

Visa is committed to collaborating with legitimate and compliant digital currency platforms such as exchanges like Coinbase and payment platforms like Fold to connect with Visa's 61 million merchants worldwide. Moreover, more than 25 digital currency wallets have integrated with Visa, allowing users to make payments with digital currencies through Visa debit cards as intermediaries on any platform or merchant that accepts Visa worldwide.

Visa's Global Money Movement (Visa Direct) and FastTrack programs provide support for fintech companies, digital currency wallets, B2B, and B2C innovators to seamlessly connect to Visa's global network in real-time. Through these efforts, Visa believes it has become the preferred choice for digital currency wallets.

Engaging with Regulators to Lead Policy Direction

Visa addresses the pain points, stating that current policy makers and regulatory bodies still have concerns about digital currencies, and the best solution is:

Mainstream institutions should collaborate closely with public agencies.

Visa emphasizes its ongoing collaboration with policy makers and global organizations to help the public understand digital currencies, including partnerships with the World Economic Forum, providing policy advice to assist central banks in exploring the concept of digital currencies, and more. Visa believes that with vigorous promotion, its strategic approach to digital currencies will gradually demonstrate significant value:

• Privacy, Security: Will strictly focus on data security, consumer privacy, and fairness.
• Provide partners with the necessary knowledge of blockchain and digital currencies to continue adoption.
• Enhance Visa's core capabilities: Protect transaction data, maintain network availability, and continue to integrate with existing and future partners.

Visa's Historical Layout

Visa is extremely optimistic about the future development of digital currencies in the article. However, from its past strategies, it can be seen that Visa has long recognized that digital currencies will be the next trend. This includes briefly joining the Libra Association, investing in cryptocurrency custodian Anchorage, applying for a patent to issue digital fiat currency, acquiring Coinbase service provider "Plaid," and more.

Visa believes that digital currencies have great potential to expand the value of digital payments to a broader audience. As digital currencies become more widespread, Visa hopes to play a supportive role in shaping and fostering growth and plans to continue releasing information on its future strategies in the coming months.