Mastercard and Visa are holding off on their crypto integration plans in the wake of several turbulent events that have rocked the cryptocurrency space in the last year, according to Reuters.

While rules and regulations regarding crypto are still taking shape worldwide, stablecoins’ value in facilitating international settlement and cross-border payments has earned recognition.

Bitcoin, the world’s first cryptocurrency, gained 15% in the past week to trade at US$24,885 and 7 p.m. in Hong Kong, surpassing payments giant Visa in market capitalization for the third time in history.

Wirex, a leading crypto payments platform, has announced a long-term strategic partnership with payment giant Visa (NYSE: V) to expand its footprint in the United Kingdom and the Asia-Pacific (APAC) region.

Cryptocurrency payments app Wirex has signed a long-term global partnership with Visa (V) to expand its footprint in Asia-Pacific (APAC) and the U.K., according to an announcement on Monday.

A global payments giant, Visa is looking forward to building a “muscle memory” around settlements. Intending to increase the ease of conversion between digital tokenized Dollars and traditional US Dollars, Visa is currently investing in a global settlement with crypto tokens and fiat currencies.

Payment company Visa is seeking to build a "muscle memory" to settlements, aiming to allow customers to convert digital assets to fiat currencies on its platform, according to the company's head of crypto division Cuy Sheffield at the StarkWare Sessions 2023.

The CEO of the world’s largest credit card company told shareholders on Tuesday that stablecoins and central bank digital currencies (CBDCs) will play a “meaningful role” in the payments space going forward. 

Nebeus, the Financial app for Crypto Hodlers, announced the launch of the first Nebeus Card backed by VISA, available all around European markets.

Thailand FinTech giant and Ripple partner DeeMoney has entered a partnership with Visa to integrate Visa Direct with its international payments platform, per a report from Bangkok Post yesterday.