Payments Companies Are Playing Hide-the-Crypto

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Visa and PayPal are making new moves so that customers can use crypto for day-to-day purchases. WSJheard explains. WSJWhatsNow

this week made moves that can subtly make blockchain and crypto a part of what otherwise seem to be everyday transactions—without putting any onus on merchants to have to think about accepting newfangled moneys.

Similarly, Visa on Monday said it has started piloting settlement of transactions on its own network with digital currency. Already some digital-wallet providers, such as Crypto.com, offer debit cards linked to users’ crypto holdings such as bitcoin. Again, the merchant receives fiat currency and doesn’t know that the debit card swiped is funded by crypto. This previously meant that the wallet provider has to swap cryptocurrency for fiat to settle up with the card network.

 

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