Visa’s Crypto strategy remains intact despite Crypto winter

In a tweet on Tuesday, Visa’s head of crypto, Cuy Sheffield, said reports of Visa wanting to slow down partnerships with the crypto space are inaccurate, and he reiterated that Visa continues to partner with crypto companies.

“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,” Sheffield said.

Visa recently signed a long-term global partnership with crypto payments app Wirex to expand its footprint in Asia-Pacific (APAC) and the U.K., to bring more payment options to consumers.

Mastercard was also reported to be taking a step back in the crypto space. A spokesperson from Mastercard, however, told CoinDesk the company still intends to “work with partners to bring relevant payments solutions and programs to market.”