Visa explores blockchain and digital currency

Financial services giant Visa has signaled its support of blockchain and digital currency. In a blog post, titled “Advancing our approach to digital currency,” Visa explores the different ways it can help legacy institutions integrate blockchain and digital currency, Coingeek reports.

“We believe that digital currencies have the potential to extend the value of digital payments to a greater number of people and places,” says the blog. “As such, we want to help shape and support the role they play in the future of money. We look forward to sharing more with you on this work in the months that follow.”

Visa is primarily looking to “connect Visa’s network of financial institutions, merchants, and consumers to new blockchain and digital currency networks.” It plans to do this by helping financial institutions, merchants, and consumers, implement the infrastructure they need to be compatible with digital currencies and blockchains that are in demand.

The post also outlines three elements of Visa’s digital currency strategy:

On security, Visa will “focus on data protection, consumer privacy and fairness, and full compliance with all applicable laws.”