It's a common misconception that Bitcoin and the legacy payment processors like Visa and PayPal are on opposite sides of a battle for the monetary future. Indeed, to realize the full potential of Bitcoin, it will require a "layered" approach. While the first "layer" of the Bitcoin monetary network consists of its battle-tested blockchain, other layers can be built on top of that sturdy foundation to make previously impractical monetary and economic applications a reality. This layered approach can be compared to the modern internet and the underlying TCP/IP protocol.
Legacy payment systems flip from fighting Bitcoin to fighting over it
Tweets on this subject
Visa is launching an API that will allow every bank customer to offer Bitcoin through their existing services.— Pomp 🌪 (@APompliano) February 3, 2021
The API is in partnership with Anchorage.
JUST IN: @Visa is working with @Anchorage to allow customers at traditional banks to "buy and sell digital assets such as Bitcoin," the payments giant said Wednesday.@Nate_DiCamillo reportshttps://t.co/dtaBmyAMow— CoinDesk (@CoinDesk) February 3, 2021