CJ - Cryptocurrency Enthusiast
The group manager of Visa reported an increase in Middle Eastern cryptocurrency transactions
Since then, the use of credit cards with characteristics related to cryptocurrencies has increased globally; in 2021, Visa reported over $3.5 billion in cryptocurrency transactions. Middle Eastern Bitcoin investment and transactions have recently increased at a similar rate.
Cryptocurrencies are becoming more widely used as a form of digital payment throughout the world, according to Leila Serhan, senior vice president and group country manager for Visa in North Africa, the Levant, and Pakistan (NALP). Middle Eastern nations have more lately embraced it. She recently discussed her opinions on the subject in an interview with Jordan Times.
Serhan stated that cryptocurrency investment is still a powerful medium and added, "we cannot ignore the rise of cryptocurrency”. Around 400 million individuals worldwide have bought cryptocurrency, and Visa views itself as a network of networks, with crypto networks being unquestionably one of the networks where we want to enable the flow of money.
Visa has already collaborated with over 65 exchanges that support cryptocurrency trading. If nation's laws let it, the corporation will enable Bitcoin transactions, said Serhan, in order to increase its promotion. Serhan concluded that digital payments are essential for boosting financial inclusion among Middle Eastern small- and medium-sized companies.
In the most recent earnings call, Visa said that users used crypto-linked cards to make $2.5 billion in payments in the first quarter of 2022. 70% of the company's cryptocurrency volume for the fiscal year (FY) 2021 would be represented by this amount, according to a CNBC article citing Visa CFO Vasant Prabhu.
It is impossible to overestimate the role that financial literacy plays in defending against online fraud. Visa has started a number of programs to inform users about e-commerce security and digital financial literacy in an effort to address this problem.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards