Visa’s fintech Fast Track program has been adding cryptocurrency startups to its list in a bid to boost innovation within the crypto space
Cryptocurrency payment startup Wyre has announced that it has been added to Visa’s Fast Track program. The move would make it easier for Wyre to leverage Visa’s technology to build more products for its customers.
In a press release yesterday, Wyre said the partnership is an excellent opportunity for the startup. Wyre said that by joining the Visa Fast Track program, it would enjoy unprecedented access to the payment giant’s technology and resources. Wyre could take advantage of the reach, capabilities, and security of Visa to develop more products.
The cryptocurrency startup pointed out that joining the Visa Fast Track program would allow it to provide extra functionalities to its users. The company’s push-to-debit program would make it possible for its users to enjoy fast withdrawal of cryptocurrencies to their bank accounts through their Visa cards.
In addition to these, the startup’s card issuance program would also allow its customers to convert and spend their funds on Wyre with the Visa cards. All these benefits would be provided to the users safely, and with utmost convenience in mind, Wyre added.
Visa launched its Fast Track program two years ago as a means of helping fintech startups use its resources to develop more products and boost the use of their products. Cuy Sheffield, head of crypto at Visa, said the payment company is committed to bridging the gap between cryptocurrencies and fiat currencies for its millions of merchants globally.
Leading payment companies such as Visa, Mastercard and PayPal have increased their participation in the cryptocurrency space over the past few years. Cryptocurrencies have grown to become a $2 trillion market, and it is expected to grow even bigger as more institutions come in.
Hence, with the massive growth recorded by the cryptocurrency market, the leading payment companies are working hard to ensure they have a future in the nascent industry.