cryptonews: Visa has denied reports that it's planning to slam the brakes on partnerships with crypto firms following a slew of devastating bankruptcies. 👀
Sources told the news outlet that Visa's crypto ambitions were being put on ice until the regulatory landscape improved, as well as market conditions."Recent high-profile failures in the crypto sector are an important reminder that we have a long way to go before crypto becomes a part of mainstream payments and financial services."
Cuy Sheffield said that partnerships were ongoing to improve fiat on-ramps and off-ramps — an industry term used to describe cash being converted into crypto, or converted back. "Despite the challenges and uncertainty in the crypto ecosystem, our view has not changed that fiat-backed digital currencies running on public blockchains have the potential to play an important role in the payments ecosystem."Visa ended up being caught up in the FTX debacle and immediately moved to sever credit card agreements with the embattled exchange after it tipped into bankruptcy last November.
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