Visa says crypto-linked card usage hit $2.5 billion in its first quarter

"People are using their crypto-linked cards to spend in a variety of ways — retail goods and services, restaurants, travel," Visa CFO Vasant Prabhu told CNBC.

Highlights

• Visa says customers made $2.5 billion in payments with its crypto-linked cards in its fiscal first quarter of 2022.
• The number of merchants accepting crypto as payment also grew to almost 100 million.
• Mastercard and crypto exchange Gemini plan to launch a card allowing customers to earn cryptocurrency as a reward.
• Visa has no plans to hold cryptocurrency on its balance sheet, but it’s created a crypto consulting service and made several recent investments in crypto platforms as it continues to push for adoption of digital currencies.
• The payments company also announced its network of crypto wallet partners is growing from 54 to more than 65, including Coinbase, Circle and BlockFi.
• Visa CFO Vasant Prabhu told CNBC

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