The future of consumer spending in a crypto-enabled world

Traditional financial companies (TradFi) and crypto companies are integrating digital assets to meet customer demand for faster, more flexible financial services - an example being Visa recently partnering with Coinbase to enable real-time cashouts. Earlier in 2024, Visa had also partnered with Transak, intending to allow crypto-to-fiat conversions within thirty minutes for use at any Visa-accepting business, supporting both crypto and NFT markets. All the while, Paysafe is expanding its crypto-to-cash reach in Latin America with Skrill and Neteller, which “enables millions of users to convert cash into online spending.” Meanwhile, Bitpanda has joined forces with Deutsche Bank and even SWIFT (which is used by over 11,000 TradFi firms globally) has been working with three of Japan’s biggest banks that are creating stablecoins - and intend to use SWIFT’s infrastructure to make cross border payments. Partnerships such as that of Visa’s with Coinbase signal a broader trend toward “mainstr…