Visa wants to issue more cryptocurrency cards in Brazil

June 28, 2022
Journalist at Fintech Nexus News
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According to the company, this strategy was thought after an increase in global demand for the sector.

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The company Visa, responsible for producing credit cards worldwide, wants more adherence of its services in Brazil, especially in the cryptocurrency market.

In the Latin American region there is a dispute between the company and its main competitor, Mastercard, to see who can better meet this new demand for services linked to the cryptocurrency market.

In recent days, for example, Mercado Livre announced a partnership with Mastercard, so that transactions with cryptocurrencies will be tracked. However, Visa does not expect to be left behind and wants to implement its business model in the sector with force.

Senior Vice President of Products and Innovation at Visa Latin America and the Caribbean, Romina Seltzer said in recent days that the company is committed to participating in the adoption of cryptocurrencies in the region.

"As more people and businesses in the region continue to embrace crypto innovation, we at Visa are committed to being a key partner in providing the connectivity, scale, security and value propositions needed for crypto offerings to grow and become widely accepted."

And according to the executive, the cryptocurrency ecosystem has seen a big boost as investments, although more people also want to use these as currencies. Thus, it is possible that customers, partners and consumers will see more of this brand's presence in the industry.

"The cryptocurrency ecosystem continues to gain momentum in the region with increased investment, more consumer adoption and more cryptocurrency use cases, and we will continue to leverage our robust strategy to build the future of cryptocurrencies and payments for our customers, partners and consumers."

The VP recalls that it has been positioning itself strongly in the sector in Brazil, already issuing the cards to Crypto.com, Alterbank and Zro Bank in the country.

In Argentina, the prepaid card with the Visa flag was issued to Lemon Cash and a partnership was made with Satoshi Tango, showing interest in the whole region. This way Visa puts Latin America as a point of attention in its broad quest to present solutions in the cryptocurrency market.
Visa Supports CBDCs and NFTs

In addition to supporting the cryptocurrency market, Visa makes it clear that there is room to work together with central bank digital currencies, called "CBDCs". In Brazil, there is a study underway for the launch of the digital Real.

In addition, Visa has a program to benefit producers of NFTs, tokens that have emerged strongly in the last year and created a niche market associated with cryptocurrencies.

Finally, Visa does not rule out the adoption of stablecoins and predicts that it should start providing consulting in the sector, as well as offering innovation solutions to market players.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

The company Visa, responsible for producing credit cards worldwide, wants more adherence of its services in Brazil, especially in the cryptocurrency market.

In the Latin American region there is a dispute between the company and its main competitor, Mastercard, to see who can better meet this new demand for services linked to the cryptocurrency market.

In recent days, for example, Mercado Livre announced a partnership with Mastercard, so that transactions with cryptocurrencies will be tracked. However, Visa does not expect to be left behind and wants to implement its business model in the sector with force.

Senior Vice President of Products and Innovation at Visa Latin America and the Caribbean, Romina Seltzer said in recent days that the company is committed to participating in the adoption of cryptocurrencies in the region.

"As more people and businesses in the region continue to embrace crypto innovation, we at Visa are committed to being a key partner in providing the connectivity, scale, security and value propositions needed for crypto offerings to grow and become widely accepted."

And according to the executive, the cryptocurrency ecosystem has seen a big boost as investments, although more people also want to use these as currencies. Thus, it is possible that customers, partners and consumers will see more of this brand's presence in the industry.

"The cryptocurrency ecosystem continues to gain momentum in the region with increased investment, more consumer adoption and more cryptocurrency use cases, and we will continue to leverage our robust strategy to build the future of cryptocurrencies and payments for our customers, partners and consumers."

The VP recalls that it has been positioning itself strongly in the sector in Brazil, already issuing the cards to Crypto.com, Alterbank and Zro Bank in the country.

In Argentina, the prepaid card with the Visa flag was issued to Lemon Cash and a partnership was made with Satoshi Tango, showing interest in the whole region. This way Visa puts Latin America as a point of attention in its broad quest to present solutions in the cryptocurrency market.
Visa Supports CBDCs and NFTs

In addition to supporting the cryptocurrency market, Visa makes it clear that there is room to work together with central bank digital currencies, called "CBDCs". In Brazil, there is a study underway for the launch of the digital Real.

In addition, Visa has a program to benefit producers of NFTs, tokens that have emerged strongly in the last year and created a niche market associated with cryptocurrencies.

Finally, Visa does not rule out the adoption of stablecoins and predicts that it should start providing consulting in the sector, as well as offering innovation solutions to market players.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.
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