Global payment platform Visa has disclosed that it has been working closely with licensed and regulated digital currency platforms like Coinbase to provide a bridge between digital currencies and its existing global network of 61 million merchants.
Quick fact: Some weeks ago, Visa applied for a patent for a digital currency on a blockchain using possibly the ETH protocol, with the United States Patent and Trademark Office.
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The patent application disclosed two purposes, one of which would show, according to the filing, “the digital currency for an amount associated with the denomination has been created for a public key associated with a digital wallet.” The other record notes the “removal of the physical currency from circulation in a fiat currency system.”
What this means: The multinational payment juggernaut could have just sealed its position as the major global partner in the shift to monetary digitalization that is bound to happen very soon.
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Around the world, more than 25 digital currency wallets have already been linked to Visa, giving users an easy way to spend from their crypto balance using a Visa debit card.
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