Tag: Crypto

Visa’s Crypto Strategy Is Driving Its Next Stage Of Growth

Bitcoin was invented to disrupt existing monetary systems that many felt were too expensive and exclusionary. With this in mind, it was given a much broader value proposition than a deflationary issuance policy and hard cap of 21 million units. Through the novel use of blockchain technology, it also allows anyone to send money to a counterpart around the world in a few minutes for fractions of a dollar. 

This functionality placed incumbent payment platforms such as card networks and interbank messaging systems directly in bitcoin’s crosshairs. While some firms dismissed these concerns, others saw the potential and looked for ways to derive value for their partners and shareholders.

To investigate this issue further, we recently spoke with the two

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European Central Banks Demand Crypto Regulations

Europe’s biggest banks have called on the European Commission to implement tough regulations for cryptocurrencies, such as stablecoins, that would protect consumers and preserve state sovereignty in monetary policy, Reuters reported.

In a joint statement Friday (Sept. 11), the finance ministers of Germany, France, Italy, Spain and the Netherlands said they asked the executive branch of the European Union (EU), the agency responsible for managing the day-to-day business of the EU’s 27 nations, to prohibit stablecoins until oversight challenges had been addressed, Reuters reported.

Stablecoin dispensers should be registered in the EU, the ministers said, according to Reuters.

“We all agree that it’s our task to keep financial market[s] stable and to ensure that what is a task for states remains a task for states,” German Finance Minister Olaf Scholz told reporters, Reuters reported.

In addition, Scholz said regulators must ban any private

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Visa Adds Crypto Lender Cred to Fast Track Payments Program

Crypto lending platform Cred has joined Visa’s Fintech Fast Track Program to speed up payments and borrowing, Cred said Tuesday. 

  • According to the statement, entry into the fast track program will allow Cred to “more easily leverage the reach, capabilities and security that Visa offers.” 
  • By integrating its services with Visa, Cred can send interest payments directly to customer bank accounts in Visa’s network as well as issue crypto credit cards that will let customers access a line of credit without having to liquidate their crypto assets. 
  • On Tuesday, Cuy Sheffield, head of crypto at Visa, tweeted the firm’s endorsement of Cred saying the program will help Cred utilize Visa’s solutions to “improve the process of interest disbursements as well as create new crypto credit products.”
  • The Visa Fintech Fast Track Program, launched in the U.S. in July 2019, works as a vehicle for innovative fintech startups to leverage Visa’s
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Crypto firm Cred joins Visa’s Fast Track program to develop lending services

Digital asset lending platform Cred has joined Visa’s Fast Track program — a program that will give the firm access to Visa’s resources and network to expand its lending and borrowing services. 

According to an announcement today from the San Francisco-based platform, Cred will now be able to send interest payments directly to customer bank accounts through Visa’s network, as well as issue Crypto Line of Credit (C-LOC) cards that enable users to acquire digital assets using Visa payment products. 

According to Cred CEO and co-founder Dan Schatt, Cred’s entry into Visa’s Fast Track program will allow the firm to further its mission of “providing fair financial services and expand its lending and borrowing services in the most efficient way possible.”

“Cred has always served as a bridge between traditional banking and blockchain based financial services and having a direct relationship with Visa will enable the company to scale much

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