Visa has stated that it wishes to expand into the digital asset market. Cuy Sheffield, president of Visa’s crypto division, has disclosed the company’s “ambitious crypto product roadmap” in order to promote the wider usage of public blockchain networks.
Visa’s ethereum crypto roadmap
Sheffield utilized Twitter to reach out to possible software engineers who could help the company. It was also a significant step forward in the payment technology company’s entry into the digital asset sector. Visa has also expressed its intention to be a part of the financial revolution that cryptos have shown to be.
Sheffield also sent a link to the official Visa webpage for the potential position of a software engineer. Visa’s crypto team is reportedly “building the next generation of products to facilitate commerce in everyone’s digital and mobile lives.”
According to the article, the group intends to “build intuitive features that expose profound new value for our customers.” They are also looking for engineers that have an extensive understanding of and enthusiasm for the “web3 stack of technologies.” On the other hand, early this year, rumors circulated that Visa was among the many companies halting their crypto development, owing to a lack of legal clarity in the US market.
Outlook for the crypto market and Visa
Visa have been looking at new blockchain innovation prospects as traditional banking institutions go away. To expand its foray into the blockchain and cryptocurrency industries, the company has joined many Web 3.0 initiatives. In the NFT and stablecoin markets, the business has made specific investments that have the potential to severely disrupt the existing banking industry.
Furthermore, Visa is working with central banks to accelerate the use of CBDCs. Governments may be able to expand their CBDC initiatives more efficiently by utilising the Visa payment network rather than building new infrastructure from the ground up.
Visa’s CBDC payments module, in particular, is designed to provide CBDC networks with easy access to current payment networks in order to connect to traditional financial service providers. Banks and issuer processors can supply CBDC-linked payment cards or wallet credentials to customers by utilising the module and integrating their current infrastructure.