Visa Launches Bitcoin and Crypto Enabled Cards in Latam

June 21, 2022 Bitcoin.com

Mastercard to allow 2.9B cardholders to make direct NFT purchases

June 10, 2022 Coin Telegraph

Card payments for NFTs were first announced in association with Coinbase’s latest NFT marketplace in January.

International payment processing giant Mastercard is expanding its payment network for nonfungible token (NFT) markets and Web3.

The financial service provider announced that it has been working on expanding their payment networks to NFTs over the past year. The firm has partnered with a number of leading NFT marketplaces to allow 2.9 billion cardholders to directly make NFT purchases without buying crypto first.

Currently, users need to buy crypto to bid on and buy NFTs. However, with the latest Mastercard partnership, billions of cardholders can now bypass the process of buying a transferring crypto to NFT marketplaces. The firm said:

“These integrations are designed to make crypto more accessible and help the NFT ecosystem keep growing, innovating and bringing in more fans.”

Mastercard stated that it has partnered with multiple NFT marketplaces namely Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway and Web3 infrastructure provider MoonPay.

The NFT card-purchase service was first launched in January this year in a partnership with Coinbase, allowing users to buy NFTs directly using credit cards.

The decision to expand its payment network to the rapidly growing NFT ecosystem was also based on the company’s latest survey of 35,000 respondents from 40 countries, which showed that 45% of the consumers have either bought an NFT or arconsidering doing so. 50% of the surveyed consumers also showed interest in getting more flexible options to make purchases.

The firm claimed they are also working on offering world-class security to customers with its latest payment option, similar to “when making transactions in a store or online with a Mastercard card.”

The payment processing giant has shown keen interest in the crypto and NFT markets over the past couple of years. Earlier in April this year, Mastercard filed for 15 metaverse and NFT-related trademarks.

The top two mainstream payment processing companies, Visa and Mastercard, have come a long way from their early days of blocking crypto transactions on their network, and are currently competing to become leading financial services providers in the decentralized space. Visa launched an immersion program back in March to allow creators to build their business with NFTs

Tim Draper: Women will drive the next Bitcoin bull market

May 30, 2022 Coin Telegraph

Coin Telegraph

Famed crypto and tech investor Tim Draper believes the retail purchasing power of women, paired with Bitcoin acceptance at merchant stores, could send the asset to new highs above $250K.

Renowned billionaire investor Tim Draper insists that a time will come when women begin driving up the price of Bitcoin as more retailers start offering it as a more cost-effective payment option at shops.

Draper, a Bitcoin (BTC) investor himself, told host Scott Melker on the Wolf of All Streets YouTube show last week that women could be key in pushing the largest crypto by market cap up to $250,000 per coin.

He reasons that as store owners begin to accept BTC as payment more widely, “all of a sudden, all the women will have Bitcoin wallets and they will be buying things with Bitcoin.”

“Then you’re going to see a Bitcoin price that’ll just blow right through my $250,000 estimate.”

Draper believes it is in retailers’ best interest to begin accepting BTC sooner than later. He acknowledges that most store owners operate on low margins so the reduced transaction fees compared to working with major credit card companies Visa or Mastercard could increase BTC’s incentives.

Fantastic podcast with @TheWolfofAllStreets. I recommend you listen to me at 2X speed. Slow speech day. Important points. #centralafricanrepublic #elsalvador #jeffbezos #bitcoin #freedom #trust https://t.co/nqXD3tLCZY
— Tim Draper (@TimDraper) May 28, 2022

The average credit card transaction costs merchants up to 2.9% in-store and 3.5% online per purchase according to CreditDonkey. By comparison, the average BTC transaction fee comes in at a flat $1.4 per transaction according to Bitcoin data compiler BitInfoCharts.

Draper hints that the benefit to retailers is obvious. He said that women “control about 80% of retail spending,” and that retailers can save a lot on fees paid to credit card companies by choosing Bitcoin. Women constitute 30% of all crypto owners in the US according to The State of Consumer Banking & Payments by research firm Morning Consult.

The level of adoption that Draper hopes for may not be far off as Morning Consult found that about 24% of American households own crypto, which is up 2 percentage points from July 2021.

If Draper is right, then it could start a cascade event which would also validate Mastercard CEO Michael Miebach’s prediction that the global payments system SWIFT would not exist in five years. Miebach made the shocking prediction last week at the World Economic Forum in Davos.

Bankoff Crypto Cards Suspended Amid High Volume of Russian Transactions

May 5, 2022 Bitcoin.com

Mastercard files 15 metaverse and NFT related trademarks

April 11, 2022 Coin Telegraph

American Express

Mastercard joins Visa and American Express with moves into the Metaverse as it seeks to increase revenue streams and remain competitive in the virtual economy.

Payments giant Mastercard has filed 15 nonfungible token (NFT) and metaverse trademark applications with the United States Patent and Trademark Office, or USPTO.

Highlights of the filings include plans for a virtual community for interacting with digital assets, the processing of payment cards in the Metaverse, an online marketplace for buyers and sellers of downloadable digital goods, virtual reality events and more.

One trademark filing for the company's “Priceless” slogan consists of multimedia files such as artwork, text, audio and video that are authenticated by NFTs. Another application illustrates plans for its red and yellow “Circles” logo to process card transactions used for payment of goods and services in the Metaverse and other virtual worlds.

An additional patent intends to add the Mastercard name to cultural events, concerts, sporting events, festivals, and awards shows in the Metaverse, as well as to financial education seminars and programs.

As previously reported by Cointelegraph, Mastercard added 500 new hires in February to consult with banks and merchants about adopting crypto-enabled technologies and NFTs. But it is not the only major fintech firm that is applying for NFT or metaverse trademarks. Visa and American Express have submitted their own crypto-related USPTO filings.

Back in 2020, Visa first filed a patent application to create a digital currency and is currently developing a native digital currency on its card networks. In the case of American Express, there are seven applications related to its branding with virtual payment cards, concierge services in the metaverse and using its cards at an NFT marketplace.

Additionally, these credit card companies have taken several initiatives to remain competitive within the virtual economy. While Mastercard created a three-month program, called Start Path Crypto, to help blockchain and crypto startups scale their businesses, Visa also launched its own Creator Program, to mentor entrepreneurs about NFTs to grow their small businesses.

Mastercard is part of the PCI Security Standards Council, or PCI SSC, made up of the major global credit card firms including American Express, Discover, Visa and JCB that operates to improve payment data security worldwide. Recently, Scallop, a regulated DeFi banking app joined the PCI SSC, with the intention of contributing DeFi-industry insights and recommending initiatives to the Council.

Nifty News: UK Royal Mint NFT, $960k Billionaire Dog rug and Pudgy Penguins

April 5, 2022 Coin Telegraph

Nifty News: UK Royal Mint NFT, 0k Billionaire Dog rug and Pudgy Penguins

Coin Telegraph

The Royal Mint NFT featured in a series of announcements aimed at making the UK a global crypto hub, with officials saying the NFT is “an emblem” of the approach the UK “is determined to take”.

The U.K. government Treasury announced on Monday, April 4th, that it has asked the Royal Mint to create one non-fungible token (NFT) to be issued by the end of the year “as an emblem of the forward-looking approach the UK is determined to take.”

Chancellor @RishiSunak has asked @RoyalMintUK to create an NFT to be issued by the summer.

This decision shows the the forward-looking approach we are determined to take towards cryptoassets in the UK. pic.twitter.com/cd0tiailBK
— HM Treasury (@hmtreasury) April 4, 2022

The NFT was part of a series of announcements by the Economic and Finance Ministry to make the United Kingdom a global cryptocurrency hub, including amending a regulatory framework on stablecoin payments.

The NFT will be “issued by summer”, with no date publicly set for the release of the token.

Billionaire Dog NFT rug pull

Self-confessed “on-chain sleuth” “zachxbt”, popular for his Twitter threads investigating crypto figures and projects, has made a new thread on Monday alleging that French influencer Laurent Correia had a major role in an NFT project that rugged.

1/ Time for another $960k NFT rug this time involving Laurent Correia a popular French influencer with a reality TV show. pic.twitter.com/QkGeDecr5f
— zachxbt (@zachxbt) April 4, 2022

The Billionaire Dogs Club project launched in mid-December 2021 at a public mint price of 0.2 ETH, low demand for the NFTs saw the project restrict supply from 6,500 tokens to 2,000 in a bid to garner interest for the project.

According to “zachxbt”, the Discord channel and the team behind the project disappeared a week later, leaving NFT owners holding the bag. On-chain analysis by the analyst revealed that of the estimated $960,000 generated by the project, $400,000 was allegedly sent to Correia’s public crypto wallet.

4/ Here’s a breakdown where the proceeds from the project went.

Laurent himself received over $400k to his public wallet. pic.twitter.com/sckMfLoT5V
— zachxbt (@zachxbt) April 4, 2022

The same wallet was used to purchase other high-value NFTs which Correia posted on his social media accounts. Zachxbt tagged the Dubai Police, the local law enforcement where Correia lives, tweeting that it’s “sickening to see a DOX’d influencer so blatantly rug a project like this.”

Pudgy Penguins sold to Netz Capital

The team behind the Pudgy Penguins NFT project tweeted on Sunday, April 3rd, that the collection was under new management, Luca Netz of Netz Capital purchased the project for 750 ETH, about $2.5 million at the time.

Looking forward to spreading love across the Meta ❤️ https://t.co/ZBEF3W6XV2
— Luca Netz (@LucaNetz) April 3, 2022

A few months prior, the project voted out its controversial founder Cole Villemain, who has been subject to questions about his past dealings in projects, giveaways, and other businesses.

With the purchase of the 8,888 Pudgy Penguin NFTs, Netz will receive all future royalties from secondary sales.

Other Nifty News

Visa has announced the launch of it’s Creator Program, a mentorship program aimed at helping entrepreneurs accelerate their business through NFTs. Visa says the goal is to bring together digital creators to empower and educate them on blockchain technology and NFT commerce.

Non-custodial cryptocurrency platform ShapeShift DAO launched an NFT auction in support of female artists in the NFT and blockchain industry, the auction started on April 4th on OpenSea and runs until 11th April.

Payments Giant Visa Launches New NFT-Focused Program for Crypto Entrepreneurs

March 31, 2022 The Daily Hodl

Visa launches immersion program to help creators build their business with NFTs

March 30, 2022 Coin Telegraph

Coin Telegraph

The Visa Creator Program is the latest in a string of initiatives that Visa has carried out as it targets the digital creator economy.

Visa announced the official launch of the Visa Creator Program, a one-year product strategy and mentorship program for entrepreneurs working in art, music, fashion and film who seek to accelerate their small business through nonfungible tokens, or NFTs. According to Visa, the goal of the Creator Program is to bring together a global cohort of digital creators and empower them via education of blockchain technology and NFT commerce.

Originally announced in October, 2021, the program's first Visa Creator is Micah Johnson, creator of the Aku World NFT community. Johnson is a former professional baseball player who retired after multiple injuries to become a visual artist in 2018. The NFT character Aku is a young Black astronaut who has grown to ink his own film and TV deal and is considered the the first NFT art piece to digitally travel to the International Space Station.

Johnson's art has sold for a total value of 6,178 ETH, or approximately $20.9 million, according to CryptoArt at the time of publication. He joins the global payments giant's inaugural class of content creators and gig economy workers who are already engaging with NFTs. Prospective candidates must apply and be selected to partake.

Creators like @Micah_Johnson3 are at the forefront of NFTs. His work with Visa is an exciting introduction to the Visa Creator Program, a global opportunity for digital creators & artists looking to deepen their understanding of NFT commerce. Learn more: https://t.co/oAQknwPdB4 pic.twitter.com/E6B9QVTyDl
— Visa (@Visa) March 30, 2022

Cuy Sheffield, Visa's head of crypto, said in a statement that “NFTs have the potential to become a powerful accelerator for the creator economy.” He added that the Visa Creator Program is their way of helping "this new breed of small and micro businesses tap into new mediums for digital commerce.”

Besides mentorship and the community aspect of the program, other perks according to Visa are the opportunities to engage with Visa’s network of clients and partners, as well as the access to thought leaders in the Web3 space. Participants will also receive a one-time stipend to help kick-start the next phase of the company's business plan.

The Visa Creator Program demonstrates the company's commitment to Credit card giant following its $150,000 acquisition of a CryptoPunk in August, 2021 the launch of its Universal Payment Channel interoperability project and the success of its crypto-enabled cards.

Crypto Biz: Have you considered a career in crypto? March 11-17

March 17, 2022 Coin Telegraph

Coin Telegraph

Companies like Visa and Nomura Holdings have set up dedicated crypto departments as they continue to embrace digital assets.

Analyzing the labor market is a passion of mine. In my past life, I worked as a labor market analyst for a Canadian think tank specializing in the IT sector. Tech employees always enjoyed higher demand, higher pay and lower jobless rates than workers in the rest of the economy.

Although blockchain and crypto were virtually nonexistent during my tenure, these emerging technologies are now leading exponential growth for an industry evolving from Web2 to Web3. This week’s Crypto Biz newsletter highlights the growing demand for crypto professionals in the traditional finance and payment industries. We also survey the latest funding news from the world of blockchain.

Visa seeks new college grads for Crypto Development Program

Credit card giant Visa is inviting new college graduates to join its Crypto Development Program, an 18-month “rotational development experience” designed to usher in the next generation of cryptocurrency professionals. Visa says it’s looking to build a “fully fluent cryptocurrency team now and for the future” as it continues to roll out crypto-focused products and solutions. Visa has made it abundantly clear that it won’t miss out on the digital asset revolution. In December, the company announced it was launching a new crypto consulting service for merchants and banks. In September of last year, the company confirmed that it was working on a blockchain interoperability project designed to serve as a “network of blockchain networks.”

Dedicated crypto teams booming within traditional financial firms

As digital assets continue reaching the masses, specialized crypto departments are fast becoming the norm within traditional financial institutions. Perhaps the most notable example is Nomura Holdings, a Japanese financial holding company that recently set up a new digital asset department. In an interview with Cointelegraph, bitFlyer USA executive Christopher Temme said this trend is likely to continue as more clients ask their financial institutions to provide exposure to crypto markets. As it turns out, Goldman Sachs is already listening to its clients by offering access to Galaxy Digital’s Bitcoin (BTC) and Ether (ETH) funds. As financial institutions establish dedicated crypto shops, you can expect to see a lot more crypto-focused job openings in the near future.

ConsenSys raises $450M in Series D funding, doubles valuation in four months

Crypto Biz wouldn’t be complete without another massive funding announcement from the blockchain industry. This week, blockchain infrastructure provider ConsenSys announced that it had raised $450 million in Series D financing led by ParaFi Capital with additional participation from Temasek, SoftBank Vision Fund 2 and Microsoft, among others. ConsenSys managed to double its valuation to over $7 billion just four months after Cointelegraph reported that the firm’s valuation had crossed the $3 billion mark. Valuations grow rapidly when you operate MetaMask, one of crypto’s leading wallet and browser extensions. As ConsenSys reported, MetaMask now has over 30 million monthly active users.

Crypto quant firm Gauntlet valued at $1B following Series B

In keeping with the funding news, a crypto quant led by a former Wall Street executive this week managed to raise $23.8 million in Series B financing, bringing the firm’s total valuation to $1 billion. Gauntlet, the new “crypto unicorn” in question, provides financial modeling tools to the decentralized finance (DeFi) industry. In other words, it helps DeFi platforms set optimal lending and collateral levels to enhance capital efficiency and reduce risk. Gauntlet’s most notable clients include Aave and Compound, which are among the top-ten DeFi projects based on market capitalization and total value locked. While the DeFi sector may be flying under the radar for now, don’t be surprised if it starts making front-page news again. This could happen sooner than you think.

Before you go!

2022 is shaping up to be an unpredictable year for crypto, but that shouldn’t stop you from building a well-diversified portfolio of digital assets. The latest edition of The Market Report features the top crypto picks for 2022 by resident analysts Jordan Finneseth, Marcel Pechman and yours truly. We each picked a basket of four cryptos we think could outperform the market in 2022. You can watch the replay below.

Crypto Biz is your weekly pulse of the business behind blockchain and crypto delivered directly to your inbox every Thursday.

Visa seeks new college grads for Crypto Development Program

March 15, 2022 Coin Telegraph

Blockchain

Successful candidates will, among many other tasks, "define Visa’s crypto strategy and identify new product opportunities."

According to a recent job posting, Visa is inviting new college graduates to join its 18-month rotational Crypto Development Program. Applicants will alternate between the three departments of Visa's current crypto ecosystem: crypto product, crypto solutions and digital partnership, where they are given training, development, mentoring, networking and leadership exposure on top of practical experience in the industry.

The job listing does not require any specific majors, although those studying the liberal arts, business, computer science and related fields are preferred. In addition, only applicants who graduated or will graduate from a baccalaureate program between December 2021 and August 2022 qualify.

Notable duties include building subject matter expertise in specific areas of crypto, learning how to build new products inside of Visa, discovering how crypto companies operate, supporting product partnerships and learning about new crypto business models.

Over the past year, Visa has been making small but incremental moves into the crypto space, such as announcing a new crypto consulting service for merchants and banks, working on blockchain interoperability hub for crypto payments, and partnering with crypto enterprise payment platforms to expand credit options for businesses. Each year, the payment solutions provider facilitates 215 billion transactions between consumers, merchants, financial institutions and government entities across more than 200 countries.

In July 2021, Visa representatives also spoke about the company's perception of stablecoins, saying:

"Stablecoins are on track to become an important part of the broader digital transformation of financial services, and Visa is excited to help shape and support that development,"

Visa

Billionaire Dog NFT rug pull

Pudgy Penguins sold to Netz Capital

Other Nifty News

Visa seeks new college grads for Crypto Development Program

Dedicated crypto teams booming within traditional financial firms

ConsenSys raises $450M in Series D funding, doubles valuation in four months

Crypto quant firm Gauntlet valued at $1B following Series B

Before you go!

Share this video