As crypto trading grows in popularity, large financial institutions like Visa see the perfect opportunity to get involved in the technology. Although virtual commerce is going through an unfavorable time, this has not prevented the creation of new projects based on it.
According to the Arab media, the Visa company would launch a crypto TDC that will take the name of “Bitcoin Black” and work within the UAE. In this way, the financial institution would be getting even more involved in the crypto market, demonstrating that this technology does have a future.
TDC Visa backed by cryptos
Visa launched a TDC backed by cryptocurrencies and would be doing pilot tests from 2021, but it was not announced until today. According to reports, it is a TDC that only around 10,000 guests worldwide will use and aims to convert Bitcoin into other types of cryptos or cash. The TDC application can be purchased on the Bitcoin Black website.
The owner will protect TDC crypto funds, offering another couple of benefits. That is, it will be available in various places and allow the user to earn rewards for each transaction.
Easy use and fast purchases
The Visa project and its TDC look promising, knowing that its holders will have the right to acquire many products valued in cryptos. According to reports, users have the right to buy products in the virtual market of Haute Living Luxury, where they have watches, cars, planes, handbags, and mansions, among other things. The Haute store will also be available in Bitcoin Black, making it easier to access.
After these announcements, the Bitcoin Black executive director indicated that users with an excellent crypto fund would have a simple way to spend it and obtain rewards for these movements. Chand Prakash, the CEO of the website, clarified that the TDC Visa backed by Bitcoin will not only work in Dubai but will be available in some 140 territories in the world where the financial institution is present.
Chand explains that its access is simple and will be working on a dedicated website and will soon have its own mobile App. While this crypto project advances, Bitcoin, has recovered more than 2 percent of its value, according to CoinMarketCap.
Several commercial firms that offer Premium products, such as Tag Heuer and Hublot, accept cryptos as payment. This crypto adoption wave increases as more innovative technologies like those offered by financial institutions are created. On the other hand, MasterCard, the closest competitor to Visa, is also advancing in creating crypto projects.
