Visa Denies Reuters' Report, Insists on Further Partnerships with Crypto Companies

Cuy Sheffield, head of crypto at Visa, denied Reuters' report saying that Visa and Mastercard were pausing their plans to launch new partnerships with crypto firms. He said that Visa's view on crypto has not changed.

Previously, Reuters said Visa and Mastercard halted their new partnerships with crypto firms after a series of collapses in crypto last year.

But Cuy Sheffield said on Twitter, "we continue to partner with crypto companies to improve fiat on and off ramps as well as progress on our product roadmap to build new products that can facilitate stablecoin payments in a secure, compliant, and convenient way. Despite the challenges and uncertainty in the crypto ecosystem, our view has not changed that fiat backed digital currencies running on public blockchains have the potential to play an important role in the payments ecosystem."

In addition, according to CoinDesk, a spokesperson from Mastercard said the company still intends to "work with partners to bring relevant payments solutions and programs to market."