Although an unsurprising move, this is particularly good news for the millions of people worldwide who rely on the American multinational financial services provider Visa for their daily monetary transaction.
The news broke out after it was reported that the California based company is building a crypto team and is looking for cryptocurrencies and blockchain experts. According to the job description posted by the company, the Fintech giant is looking for people who are passionate about the intersection of payments and cryptocurrency. Additionally, candidates must have a deep familiarity with blockchain technology as a whole.
Visa recent interest in digital currencies and blockchain technology might come as shock for many. As of October of last year its CEO, Alfred Kelly Jr said that the blockchain was not a good technology. An understandable statement stemming from the fact that blockchain is on a mission to eliminate middlemen especially within the financial sector.
However, the company went on to buy British financial service company Earthport for $250 million. EarthPort is currently in partnership with Ripple Labs, the technology firm behind the cryptocurrency Ripple.
Slowly but surely
Visa’s journey towards decentralization has been quiet and under the spotlight. It really began with a partnership and a project with IBM. Specifically the implementation of International transactions on a global scale on Ethereum’s blockchain platform.
As the Fintech community gets more and more involved in the blockchain, 2019 seems to be the year for crypto mass adoption.