VISA is reportedly having plans to complete the integration for crypto assets onto its platform, functioning as payments and a store of value, Bitcoin included, as revealed by its VP Eduardo Abreu. 

Specifically, in March this year, Head of Brazil Visa, Fernando Teles, reportedly mentioned the idea of employing tokenized payments, together with application programming interface (API), built with a goal to establish a connection between traditional financial institutions and crypto services.

During the interview with Brazilian news agency Seu Dinheiro, Abreu reportedly believed that an increased level of adoption can only happen when the integration of traditional banking activity throughout the crypto ecosystem, to enable fiat and crypto transactions in that environment. 

Visa is reportedly providing facilitating features for 180 currencies across its platform, and is having plans down its pipeline to leverage its client audience throughout the globe, which reaches up to 170 million, as well as formed fintech alliance with national banks Alterbank, Ripio and Zro, in its efforts to achieve the highest level of adoption for the area. 

The official rollout date of the update is yet to be revealed, but it is broadly predicted to be available within the next months of 2021. 

“The great advantage of adopting Bitcoin is, without a doubt, its ease. Without needing to exchange a fiat currency, there is an optimization of exchanges when using Bitcoin,” Abreu further remarked.

“Brazilians already have the culture of receiving card points, miles, discounts, etc. Why not receive cryptocurrencies with their credit card as well?” Abreu additionally mentioned another service – cashback in crypto – that could be in the works to cater to VISA’s customers as well.