The institutions already in the mainstream are trying to adopt cryptocurrencies to the fullest since the recognition of cryptocurrencies worldwide. It is happening where the globally known payment services providers like VISA have vowed in the cryptocurrency sector to provide users with services in it.
For bringing more exposure to crypto around the world, the role is being played by VISA. It is a global payment giant and among one of the most popular and recognized platforms.
To bring more exposure and attention towards the cryptocurrency sector with the provision of newer products and facilities, it was its desire the VISA announced.
As per the announcement made, the initiative has been taken by VISA to give consideration to approve the issuance of debit cards for BTC spending in Australia. Drawing more public attention and exposure towards cryptocurrency adoption is its aim, VISA announced.
Executives of CryptoSpend which is an Australian firm, confirmed after initial statements released by VISA that they were waiting for approval from VISA for issuance of debit cards for Bitcoin. Finally, for issuance of debit cards for Bitcoin, they have received approval, it is confirmed by the executives at CryptoSpend.
It has been confirmed by CryptoSpend that after the approval received from VISA on their request, VISA will start issuing Bitcoin debit cards for its users. With the new debit cards powered by VISA for spending in Bitcoin, the users in Australia would be benefitted.
In Sydney, the CryptoSpend is based. The CryptoSpend is an application that facilitates users in spending cryptocurrencies. On Wednesday, July 14, 2021, an announcement was made in regards to the approval of the Bitcoin VISA cards.
The firm confirmed in the announcement that the issuance of physical VISA debit cards has been confirmed by VISA. Resultantly access to its users would be possible. With local merchants in Australia, users will be able to use. Acquiring debit cards for the Australia-based CryptoSpend users would be allowed from now on.
New Bitcoin VISA cards would be issued by a major local payments company namely Novatti. It is part of the process, CryptoSpend has announced. The company is expecting the issuance of new cards and sending them over to users will be done by September, the company revealed.
The approval of the issuance of CryptoSpend cards by VISA has not been confirmed up till now. In the running week, an official announcement by VISA for issuance of the CryptoSpend VISA cards is expected for according approval.
The VISA cards’ utility by the customers will be closely monitored by it, the firm has announced. More assets such as Bitcoin Cash (BCH), Ripple (XRP), and Ether (ETH) would be added to the cryptocurrencies provided the response turned out to be as expected.