The 2.5 Billion Crypto Related Traffic From Visa Customers Is Just For Q1

2022-01-28 21:11:13
Visa Crypto Record For Q1

According to data issued by one of the leading payment providers in the world, Visa, their users are responsible for approximately 2.5 billion dollars in payment traffic, via cards that are related to crypto. And this is solely for Q1.

More specifically, as per the announcement of Visa, this number is nearly 70% of the total crypto volume that Visa reported for 2021. The company contributes to this immense success by partnering with more than 65 companies that offer crypto services, worldwide.

The majority of these companies comprise the crypto exchanges and crypto platforms, as well several other blockchain-related brands. As a result, Visa is collaborating with some of the biggest names in the crypto industry, including Binance and Coinbase.

The CEO of Visa, Al Kelly, states that the network of businesses of Visa currently includes more than 100 million vendors worldwide. And according to the CEO, the company is just starting out in the crypto department.

Big Plans

In particular, the goal of Visa is to ‘lean into the crypto space’, and proceed to improve pretty much every area of the industry. This includes scaling, connectivity, reliability, crypto offerings security, as well as determining the value of consumer propositions.

And it seems like Visa is definitely on the right track to achieve these goals. Considering that as per the company’s earnings report, there is a 21% increase in total transaction volume, in comparison with 2021. This amounts to a whopping $47.6 billion solely for Q1.

One of the biggest reasons for the 2.5 billion dollar traffic from crypto payments by Visa users for Q1, is definitely the company’s global service for crypto advice. Starting from December 2021, Visa created this service in order to assist businesses and institutions worldwide to develop their crypto businesses and projects.

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