News

VISA Acquires Ripple’s Partner Earthport

Visa has announced that it has acquired a payments network company, Earthport, which is a partner of Ripple and has banking relationships in 87 countries. Visa acquired Earthport for approximately $331 million.

The offer was recommended by Visa’s board, and though MasterCard was also bidding to acquire Earthport, the former eventually triumphed. Visa’s intention with the acquisition is to offer an alternative to SWIFT payments. Individuals and businesses will now be able to use the Visa network to send payments across the world, as opposed to other transfer systems.

Use cases include pay rolls and international payments between individuals and businesses. Visa is also working on a B2B blockchain network.

Bill Sheley, head of global push payments at Visa, was excited about the acquisition, saying,

Visa is modernizing the way we move money by making it quicker, safer and easier to pay and be paid than ever before. The acquisition of Earthport unleashes the power of Visa by taking us ‘beyond the card,’ empowering us to enable our clients to make payments through bank accounts around the world.

Visa is also working on its own crypto division.

Abhimanyu Krishnan

Abhimanyu is an engineer on paper but a writer by living. To him, the most celebratory aspect of blockchain technology is its democratic nature. While he’s hodling, he can be found reading a good book or making the local dogs howl with the sound of his guitar playing.

Share
Published by
Abhimanyu Krishnan

Recent Posts

Is A Silicon City Tech Giant Behind BlockDAG Network As Its $11.4M Presale Outcasts Floki Inu Price Surge Amid BOME Fluctuation

With Floki Inu's next bull run approaching, investors are closely monitoring its innovative token burn…

2 weeks ago

BlockDAG Becomes Top Crypto Investment Choice with $9.9M Presale, Beating Fantom & Apecoin

BlockDAG (BDAG) has continued to stand out with its innovative presale strategy, offering early investors…

2 weeks ago

Render and Dogecoin Price Predictions Defy Expectations As BlockDAG Emerges as the Highest ROI Crypto for 2024

As we venture into 2024, the crypto market is brimming with potential for unprecedented growth.…

2 weeks ago

Solana’s 20% Trading Spike Sparks BlockDAG Presale Interest While Memeinator Presale Reaches Edge

This analysis contrasts the flourishing momentum of BlockDAG coin's presale against the backdrop of the…

3 weeks ago

CryptoGames Review: Bitcoin and Altcoin Casino

Ever wondered what it is like to experience the extravagant casino vibes in the comfort…

2 years ago