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Investing.com -- Visa Inc Class A (NYSE:V) stock climbed 2.8% following reports that the credit card behemoth is in talks with blockchain ecosystem World Network. The discussions aim to integrate Visa card functionality into World Network’s self-custody cryptocurrency wallets, a move that could significantly expand Visa’s reach in the fintech and cryptocurrency sectors.
The potential partnership, as reported by Coindesk citing an insider, would enable World Network wallet users to access various financial services, including fiat currency exchanges, cryptocurrency trading, and stablecoin-based payments to merchants within Visa’s extensive global network. Tools for Humanity, the company overseeing Worldcoin and World Network, is actively pursuing this integration and has reached out to card issuers and crypto card facilitators to advance their vision.
The insider provided a glimpse into the strategy, which would essentially turn the World Wallet into a versatile financial tool, likened to a mini bank account, for users across the globe. This development comes at a time when traditional financial institutions are increasingly exploring blockchain technology and cryptocurrency applications to stay ahead in the rapidly evolving digital economy.
Visa’s potential foray into on-chain card features through the World Network partnership underscores the company’s commitment to innovation in the payment industry. By leveraging blockchain technology, Visa could offer a seamless and secure platform for users to manage both fiat and digital currencies, further solidifying its position as a leader in global payments.
Analysts have yet to comment on the specifics of the deal and its expected impact on Visa’s financial performance. However, the market’s positive response to the news indicates investor confidence in Visa’s strategic direction and its ability to capitalize on emerging trends in the digital finance space.
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