Visa users made $2500 billion in payments with crypto cards during the company's first fiscal quarter, Visa CEO Al Kelly said on his earnings call Thursday.
- The figure for the quarter was 70% of Visa's cryptocurrency volume for the full 2021 fiscal year, Kelly added during the call with analysts. More than 65 crypto platforms and exchanges, including Coinbase and Blockfi, have teamed up to issue Visa IDs, the company said.
- More than 100 million Visa network providers now also accept Visa payments, the company added.
- Kelly said that Visa continues to "look at the crypto space" and improve areas such as connectivity, scale, consumer value propositions, reliability and security so that crypto offerings continue to grow.
- The company said in its earnings statement that total transactions processed by Visa for the quarter were €47.6 billion, up 21% from a year earlier.
- Last December, Visa formed a global crypto advisory practice to help financial institutions grow their crypto businesses as demand for crypto products continues to grow.
Read more: Visa partners with ConsenSys to help CBDCs move closer to traditional finance