Payment processing giant Visa Inc. (NYSE:V) processed a significant volume of transactions performed with crypto-backed payment cards during the first quarter of 2022.
What Happened: Visa announced that it processed $2.5 billion worth of crypto card payments in the first quarter of 2022, according to a Friday CNBC report. This is purportedly equivalent to about 70% of the volume of crypto card payments that the company processed during the whole of 2021. Visa CFO Vasant Prabhu told CNBC that this shows "that consumers see utility in having a Visa card linked to an account at a crypto platform."
