If wavering, fluctuating Bitcoin and altcoin prices have you constantly doubting a delve into the riskiest of all risk-asset classes, then the crypto-adoption path of huge companies such as Visa and Mastercard might put your mind partly at ease.

Both multinational financial services companies have been increasingly delving into crypto facilitation over the past couple of years, but this week’s latest eye-opening news centres on Visa.

The credit card and debit card payments giant is reportedly seeking to make further hires of experienced crypto developers in order to “drive mainstream adoption of public blockchain networks and stablecoin payments”.

And that comes straight from the horse’s mouth – said horse being Visa’s vice president, and head of crypto, Cuy Sheffield.

Visa has also published an official  job listing that notes it’s hunting engineers who are “passionate about the Web3 stack of technologies”.

The Visa Software Engineer position(s) were posted yesterday and the work is set to be located in London, UK – a city that seems to be increasingly open to the idea of becoming a crypto hub, according to recent reports.

Backing that statement up, the US exchange giant Coinbase (currently suing the SEC in relation to lack of regulations clarity) has been making some noise recently about shifting headquarters to London. Meanwhile, the UK Treasury is planning to revive its Asset Management Taskforce, which will include the development of crypto regulations in collaboration with the private sector.

The new Visa jobs, meanwhile, will also require “a good understanding of Layer-1 and Layer-2 solutions and experience writing smart contracts using Solidity”, which is Ethereum’s programming language.

Applicants will also need an “understanding of public and permissioned DLT [distributed ledger technology], security protocols, private key custody” as well as the new Ethereum “account-abstraction” standard, ERC-4337.

Earlier this year, Visa’s Sheffield shut down the notion (fuelled by reports in February) that it would be halting its forays into crypto following the collapse of high-profile crypto firms last year and subsequent uncertainty surrounding the industry.

 

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