Billion Deal: Visa bought a cross-border payment service. What will it give us?

Briefly:

  • Visa became the owner of the platform CurrencyCloud
  • This means that the company will now control even more cross-border payments
  • The service also supports transactions in cryptocurrencies

Visa completed the process of purchasing the CurrencyCloud service. The deal cost an exorbitant amount 1024 million dollars.

Exciting times ahead for Currencycloud as @Visa announce the completion of the acquisition.

We look forward to working together to bring greater transparency, flexibility and control for businesses moving money around the world! pic.twitter.com/R5BCYjgGHg

— Currencycloud (@Currencycloud) December 22, 2021

CurrencyCloud is a platform that plays the role of an intermediary between banks and fintech companies of different countries. She conducts currency exchange, including cryptocurrencies and fiat currencies, and is also responsible for international payments.

С 2020 CurrencyCloud has partnered with Ripple to help process cross-border transfers on RippleNet. with a rapidly growing cryptocurrency industry.

By the way, Visa is already cooperating with more than 22 bitcoin platforms and allows you to accept payments in cryptocurrency 80 million sellers

The payment giant also launched a dedicated consulting center to help banks implement blockchain technologies faster and more securely. And recently, CEO Kui Sheffield called Bitcoin a “technological phenomenon.”

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