Since the worldwide recognition of cryptocurrencies, mainstream institutions are trying to adopt cryptocurrencies to the fullest. This is where global payment services providers such as Visa have vowed to provide users with services in the cryptocurrency sector.
Visa, being a global payment giant and one of the most popular and recognized platforms around the world is playing its role in bringing more exposure to crypto around the world.
Visa had announced that it wants to bring more exposure and attention towards the cryptocurrency sector with the provision of newer products and facilities.
Just recently, Visa has taken its initiative in Australia, as it has announced it is considering approving the issuance of debit cards for BTC spending in the country. With this, Visa aims to bring more exposure and public attention towards cryptocurrency adoption.
Following the initial statements released by Visa, the Australian firm known as CryptoSpend has confirmed that it was their executives waiting for approval from Visa. The executives at CryptoSpend have now confirmed that they have received approval from Visa for the issuance of debit cards for Bitcoin.
CryptoSpend has confirmed that after the approval of the request, Visa will go ahead and issue Bitcoin debit cards for its users. The users in Australia would be able to benefit from the new debit cards powered by Visa for spending in Bitcoin.
CryptoSpend is an application that is based in Sydney and facilitates users as they spending cryptocurrencies. The announcement in regards to the approval of the Bitcoin Visa cards was made by CryptoSpend on Wednesday, July 14, 2021.
In the announcement, the firm confirmed that the physical debit card issuance has been confirmed by Vis and, the users would have access to it. The users will be able to use the debit cards at local merchants. For now, the CryptoSpend users based in Australia would be able to acquire the cards and they would be able to spend Bitcoin through them.
CryptoSpend has announced that as part of the process, the new Visa cards for Bitcoin would be issued by Novatti, a major local payments company. The company has revealed that by September, it is expecting that the new cards will be issued and sent over to the users.
For now, Visa has not confirmed that it has approved the issuance of the cards. It is expected that Visa will be making an official announcement around the approval of Visa card issuance for the CryptoSpend cards in the running week.
The firm has announced that it will be closely monitoring the utility of the Visa cards by the customers. If the response turns out to be as expected, then more assets such as Bitcoin Cash (BCH), Ripple (XRP), and Ether (ETH) would be added to the cryptocurrencies.