People, it is now visa to Cryptocurrency, Bitcoin As Payment Giant, VISA, Goes Bitcoin

People, it is now visa to Cryptocurrency, Bitcoin As Payment Giant, VISA, Goes Bitcoin

People, it is now visa to Bitcoin and the broad cryptocurrency world. Yes, the payment giant, Visa, will now “allow the use of cryptocurrency USD Coin to settle transitions on its payment network”, reports Reuters.

Visa Inc said on Monday it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry. […]

“We see increasing demand from consumers across the world to be able to access, hold and use digital currencies and we’re seeing demand from our clients to be able to build products that provide that access for consumers,” Cuy Sheffield, head of crypto at Visa, said.

Nigeria remains disconnected from this future after the Central Bank of Nigeria cut-off exchanges from the banking systems. You may wonder – why fight a battle you have no chance of winning? Today, with this addition, many young Nigerians will see Visa as offering an additional value proposition than the local competitors. And if that continues, the gap will widen. What an own-goal by Team Nigeria!

Cryptocurrency has taken another leap towards the mainstream, with Visa announcing it will allow “the use of cryptocurrency USD Coin to settle transitions on its payment network,” Reuters reports. It’s the latest major financial firm to dabble in digital currency, with companies including Mastercard, BlackRock and BNY Mellon also accepting digital coins. Meanwhile, Tesla boss Elon Musk announced last week that customers can now purchase its electric vehicles using Bitcoin. Such moves signal the growing acceptance and “legitimacy” of electronic coins despite ongoing skepticism.

I have expected that we will wake up one day to read a simple line from the apex: these are the rules and anybody who wants to do cryptocurrency must observe them. Nigeria must have the capacity to make those rules! Yes, have rules to mitigate any systemic risk but allow young people to go and win, or fail, but get better next time.

 

The Central Bank of Nigeria ATTACKS Cryptocurrency in Nigeria With This Notice

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One thought on “People, it is now visa to Cryptocurrency, Bitcoin As Payment Giant, VISA, Goes Bitcoin

  1. Nigeria doesn’t have any capacity, even the cows it cares so much about, it still doesn’t know how best to rear them, without inflicting pains on ordinary citizens.

    The mindset is still primitive, it neither accepts criticism nor open to innovation, anything the lazy brains don’t understand or know how to benefit from, doesn’t exist.

    This is perhaps the only country where a large chunk of the population is so comfortable with being backward and mediocre, and they are not even bothered. It’s numbing, to say the least.

    A country where a professor wasn’t good enough to be the party’s flag bearer, but only good to play second fiddle to the one whose basic education certificate is still questionable, and we keep pretending as though all is well. The land has a special covenant with mediocrity.

    No matter how brilliant or capable you are, if your superior is dumb, you will end up being dumb as well; you cannot outshine your master.

    We just need to slow down the rate at which we produce idiots in the land, because we already have them in disproportionate size.

    Being a Nigerian takes a lot of bravery.

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