Major payments like Visa, Mastercard, and PayPal all see cryptocurrency as an opportunity.

Wall Street research firm Moffett Nathanson warned consumers on the 15th, according to CoinDesk, that massive payment services Visa, Mastercard and PayPal do not see an increase in cryptocurrency transactions as a threat and will continue. China investment in the cryptocurrency ecosystem.

In the report, Moffett Nathanson spoke about the growth of cryptocurrencies from traditional payment services and noted the efforts of major payment services to change forever. Our extensive à la carte program caters to their curiosity while attending Moffett Nathanson's event.

Visa believes that the concept of cryptocurrency goes beyond payments and is the second most viable solution available on the blockchain network. : The company's packaging industry is expected to grow further over the next 1-2 years by partnering with cryptocurrency wallets.

Raj Dhamodharan, Senior Vice President, Blockchain and Digital Assets Products, Mastercard, said, “Mastercard enjoys the benefits of cross-border cryptocurrency deposits and withdrawals through cryptocurrency exchanges and wallets, and considers crypto currency as the time to develop new products. . It plans to become the preferred channel for the NFT market and add more connectivity to payments using cryptocurrencies through the old system.

Edwin Aoki, PayPal technology expert and CTO of its Blockchain, Cryptography and Digital Currency division, said: PayPal is also committed to opening its platform to connect to the DeFi network and allow users to send or send receive secure payments. Digital wallet.

Massive cryptocurrency payment difficult

The money market has repeatedly reported that our largest payment service provider has made significant strides in cryptocurrency since the start of this year.

Data from Visa's third quarter earnings conference call shows Visa has worked with more than 50 cryptocurrency wallets and platforms, up from 35 in the first quarter, and is improving its wallet standard to support them. payments in the stable USDC in the United States. The project has become an important engine of growth for the company.

Earlier this month, "CNBC" reported that Visa reached $ 3.5 billion in digital currency conversion from debit cards to cryptocurrency from October 1, 2020 to September 30, 2021. Users can use payments in cryptocurrency to over 80 million traders.

Mastercard announced that it would support cryptocurrency payments in February of this year, and in April, announced that it would partner with Gemini, a major US cryptocurrency exchange, to announce the card. Gemini cryptocurrency credit offering current information on 3% cryptocurrency this year. ..

Mastercard also announced in July that it would provide card service for cryptocurrency wallets and exchanges, reducing friction in cryptocurrency or fiat payments, making it easier for participants to do so. Cryptocurrency and fiat currency exchanges are always advertised. Blockchain analytics firm CipherTrace is further expanding its cryptocurrency strategy.

Paypal announced the launch of a new super app that integrates high yield payment, cryptocurrency trading and savings in September, and last month also released a major update to this app that allows users to visit millions of PayPal merchants using cryptocurrency.