Visa, the credit card company formerly seen as an enemy of the crypto industry has made a turnabout by becoming a new major supporter of the bitcoin community, This leading credit card company has recently announced plans of releasing a crypto software program by the end of the year. Moreover, banks will be involved in supporting Visa’s cryptocurrency trading and buying services.
Anchorage, a leading digital asset custodian, has in fact become the first digital asset bank in the U.S. The recognition came after the U.S Office of the Comptroller of the Currency (OCC) awarded Anchorage, a national trust charter. Anchorage is one of several banks that will provide storage services for Visa cryptocurrency users.
What Has Been Causing the Bitcoin Boom?
Bitcoin’s value recently rose to a record high $46,000 as robust trading continues to propel bitcoin into the mainstream of the global financial market. Paid endorsements from celebrities like Lindsay Lohan helped boost trading, while the more conventional Wall Street investors began taking interest in bitcoin investments.
The BTC boom is also attributed to Paypal’s rollout of a platform that allows millions of Paypal users to use bitcoin and other cryptocurrencies in completing online transactions. Paypal by the way is a one of Visa’s strongest rivals.
The latest spike occurred last week, after Tesla’s and SpaceX’s CEO Elon Musk made mention of Tesla’s $1.5 billion investment in bitcoin.