Visa's crypto partnerships grow by 43% in four months

Quick Take

  • Visa now has 50 active partnerships with crypto firms, up from 35 just four months ago.
  • Visa’s head of crypto Cuy Sheffield told The Block that crypto and stablecoins are on track to become an important part of the financial future.

The number of Visa's partnerships with crypto firms has grown by 43% in the last four months.

Visa now has 50 active partnerships, up from 35 just four months ago, the company's head of crypto, Cuy Sheffield, told The Block. That means 50 crypto firms have launched or are set to launch debit and credit cards with the payments technology giant.

Some of the notable partnerships include those with Coinbase, Binance, Crypto.com, and others. These firms offer Visa-linked debit cards, which help their customers to spend cryptocurrencies at Visa's global network of 70 million merchants. BlockFi, on the other hand, offers a Visa credit card that allows customers to spend fiat and get rewards in crypto.

The billion-dollar mark

Visa said more than $1 billion has been spent via its crypto-linked cards in the first six months of this year.