Visa continues to investigate the advantages of the cryptocurrency industry with new initiatives designed to encourage mainstream adoption centered on blockchain networks and stablecoin payments.
Visa’s head of cryptocurrency, Cuy Sheffield, took to Twitter on April 24 to herald the launch of a new cryptocurrency-related initiative.
According to Sheffield, the forthcoming crypto product from Visa is intended to accelerate the widespread adoption of public blockchain networks and stablecoin payments.
According to an April 20 job posting by Visa, the company’s crypto division is developing the “next generation of products” to facilitate the digital commerce of daily life.
To develop the product, Visa is looking to employ software engineers with expertise in programming, backend systems, and Web3 technologies.
“Particularly interested in experience using Github Copilot and other AI-assisted engineering tools to write and debug smart contracts,” Sheffield tweeted.
Visa listed a strong comprehension of Layer 1 and Layer 2 solutions and experience writing smart contracts using the programming language Solidity as preferred applicant qualifications. Solidity, a programming language introduced by the Ethereum Network, is used to construct smart contracts on blockchain platforms and to generate a chain of transaction records in the blockchain system.
In addition, a thorough comprehension of public and permissioned distributed ledger networks, security protocols, private key custody, and new Ethereum enhancements like ERC-4337 is required.
One of the world’s largest payment processors, Visa moved significantly into the cryptocurrency industry in 2020, partnering with blockchain company Circle to enable the USD Coin stablecoin on select credit cards.
Due to the crypto bear market of 2022 and significant industry collapses such as Celsius and FTX, the company has temporarily halted the expansion of its crypto offering and suspended new industry partnerships.
