Visa Announces Bitcoin Integration Plans

17 March 2021 | Updated: 17 March 2021

The CEO of Visa, Al Kelly, has announced that the financial services giant is nursing plans to enable Bitcoin (BTC) purchases on Visa credentials. The statement is coming only a few weeks after rival financial services provider—MasterCard—announced its cryptocurrency plans.

The CEO broke the news during a session on Fortune’s Leadership Next podcast, where he also noted that the company has plans to work with Bitcoin wallet providers.

Visa reported in February that it was partnering with First Boulevard—a digitally native Neobank with the sole aim of building generational wealth for the Black community—to accelerate its entry into the cryptocurrency market.c

Kelly noted that:

“We’re trying to do two things: one is to enable the purchase of bitcoin on Visa credentials and secondly, working with bitcoin wallets to allow the bitcoin to be translated into a fiat currency and therefore immediately be able to be used at any of the 70 million places around the world where Visa is accepted.”

MasterCard announced in February that it plans to enable Bitcoin and other cryptocurrency transactions on its platform in 2021. EVP Blockchain and Digital Partnerships at MasterCard, Raj Dhamodharan, noted in an official release that the company would take its time with consumer protection and compliance before the selection of cryptocurrencies.

BTCUSD – 4-Hour Chart

Key BTC Levels to Watch — March 17
Bitcoin suffered a sharp correction from its previous all-time high ($61,785) over the past 48 hours and could resume its bullish momentum in the coming hours. The benchmark cryptocurrency bottomed out at the $54k support area as more retail traders continue to buy every dip.

That said, BTC has to scale the $56,700 resistance before any glimmer of bullish movement can be attained. However, staying idle too long below the $56,700 resistance could precipitate another correction to the $52,500 area.

Meanwhile, our resistance levels are at $56,700, $58,000, and $59,000, and our key support levels are at $55,000, $54,000, and $52,500.

Total Market Capitalization: $1.72 trillion

Bitcoin Market Capitalization: $1.04 trillion

Bitcoin Dominance: 60.5%

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.