Leading global credit card processing firm Visa will soon begin researching bitcoin and blockchain technology, according to a new report.
Speaking to LiveMint, the online division of India's second-largest newspaper, Visa executive vice president of technology Rajat Taneja indicated that the research will take place in the company's innovation labs, which are focused on improving its Visa Checkout and mVisa products.
Taneja told the media outlet:
Visa's Bengaluru office, Taneja said, employs 400 engineers and will soon expand to 1,000, though not all are expected to work on bitcoin or blockchain-related initiatives.
The article went on to indicate that Visa is considering partnerships with companies including Infosys and Tata Consultancy Services that would also focus on blockchain projects.
Visa credit card image via Shutterstock
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