Visa Plans To Accept Bitcoin Payments In Brazil!

Visa plans to accept Bitcoin payments in Brazil! Payments giant Visa wants to integrate cryptocurrencies with its platform.

Eduardo Abreu, Vice President of Visa's new business division, interviewed Seu Dinheiro, a local news organization in Brazil. In the interview, Abreu stated that the company wants to integrate cryptocurrencies into the platform both as a payment unit and as a store of value. In March 2021, Visa's Brazil CEO Fernando Teles introduced the concept of tokenized payments alongside an API designed to bridge the gap between traditional financial institutions and cryptocurrency services. In the interview, Abreu stated that he believes traditional banking activities will integrate with the cryptocurrency ecosystem so that customers can transact with fiat and cryptocurrency at the same place. Currently, Visa supports 180 currencies on its platform. However, the company will leverage the country's national banks Alterbank, Ripio and Zro to maximize adoption in the region. Abreu said: “One of the biggest pluses of Bitcoin is that it is easily accessible. It has become easier to exchange cryptocurrencies than fiat currency.” In addition, Abreu talked about the possibility of his customers getting cashback in cryptocurrency: "Brazilian citizens have a cashback culture of card points, miles and discounts. Why shouldn't they receive these payments in the form of cryptocurrencies?"