Traditional payment giants deepen their involvement in the crypto market, initiating a new round of financial innovation

Recently, payment industry giants are accelerating their entry into the cryptocurrency sector. On June 24, a global leading payment service company announced the launch of on-chain cryptocurrency purchase services, further promoting the mainstreaming of crypto payments.

In fact, this payment giant has been deepening its encryption strategy in recent years, gradually moving from initial experimental exploration to actual implementation, with its encryption business becoming a key part of its global financial landscape.

Open up the on-chain deposit channel, simplify the cryptocurrency purchasing process

Recently, the payment giant reached a strategic cooperation with a well-known blockchain infrastructure provider, which will allow over 3 billion cardholders worldwide to purchase encryption directly on the blockchain using credit cards. This cooperation is not only another important layout for the company in the encryption field, but it also achieves a deep integration of traditional financial networks and decentralized finance (DeFi) core components in the fiat deposit pathway, potentially opening a new channel for the large-scale popularization of on-chain finance.

According to the introduction, in this service system, users do not need to register an account with a centralized exchange or perform cumbersome on-chain bridge operations. They can simply initiate a transaction request through the decentralized exchange (DEX), which has integrated this function, to purchase encryption assets using a credit card. The entire process involves multiple parties collaborating: the DEX serves as the user's front-end entry point, supporting the initiation of credit card payment instructions; traditional payment gateway service providers offer seamless card payment processing, validating and handling users' fiat currency payments; encryption currency and stablecoin infrastructure providers are responsible for converting users' fiat currency into encryption currency while ensuring compliance, providing liquidity, and on-chain services; decentralized oracle networks and interoperability standards ensure the security of on-chain transactions and the reliability of data.

Ultimately, crypto assets will be sent directly to the user's on-chain wallet address via smart contracts, with no need to understand trading pairs, gas fees, or slippage parameters, nor to switch to a centralized trading platform.

This innovative service breaks the traditional payment company's focus on the consumer end that has dominated in recent years. Previously, they mostly allowed users to make daily purchases through encryption debit cards, automatically converting their digital assets into fiat currency in the background. However, this cooperation directly opens up the channel for fiat deposits into on-chain assets, allowing non-encryption native users to simply swipe their cards as if shopping on an e-commerce platform to obtain on-chain assets, without needing to understand any DeFi concepts, and in a compliant and transparent manner. This not only solves the long-standing deposit difficulties faced by DeFi users but also provides the traditional financial system with a compliant, safe, and controllable on-chain channel.

In response, the Executive Vice President of Blockchain and Digital Assets at the payment company stated: "People want to be able to easily connect to the digital asset ecosystem, and vice versa. This is precisely why we are continuously leveraging our global payment network and mature experience to bridge the gap between on-chain business and off-chain transactions. Through this collaboration, we are unlocking a secure and innovative way to fundamentally transform on-chain business and drive broader adoption of crypto assets."

Focus on three major areas to accelerate the advancement of encryption strategy

In fact, the payment giant has long regarded the encryption business as an important strategic direction. According to a report submitted to the U.S. Securities and Exchange Commission in February this year, the company has made significant progress in achieving its goal of an "innovative payment ecosystem," including transaction tokenization, creating solutions to unlock blockchain-based business models, and simplifying access to digital assets. At the same time, the company clearly stated that digital currencies have the potential to disrupt traditional financial markets and may directly challenge its existing products.

To this end, the company is actively promoting the commercialization of encryption payments. Before card-based cryptocurrency purchases become a reality, it has collaborated with multiple crypto companies to launch co-branded encryption debit cards, allowing cardholders to spend directly with cryptocurrency, with the backend automatically completing fiat currency conversions.

In the process of laying out crypto payments, stablecoins are also becoming the strategic hub for the company's on-chain settlements. Recently, the company joined a stablecoin alliance initiated by multiple institutions, allowing them to jointly mint and share interest earnings from stablecoins pegged to U.S. Treasury bonds. At the same time, it will support multiple stablecoins and integrate them into its own cross-border payment network. Furthermore, the company has collaborated with several crypto payment firms to launch new stablecoin payment cards and comprehensive stablecoin payment solutions, enabling users to make stablecoin payments at over 150 million merchants worldwide.

In addition to stablecoins, the company is also vigorously promoting the construction of asset tokenization. It is developing a multi-token network aimed at replicating its traditional payment network to provide digital asset trading infrastructure for consumers, merchants, and financial institutions. The system will integrate on-chain and off-chain asset flows, ensuring compliance and optimizing user experience. The company has collaborated with multiple financial institutions to explore scenarios such as cross-border payments and carbon credit tokenization, and has applied for over 250 blockchain-related patents since 2015.

The head of the company's encryption and blockchain business stated that the company's strategic focus for 2025 has been set on three major areas: on-chain/off-chain deposits and withdrawals, promotion of crypto certificates, and stablecoin applications. The company currently supports financial institutions in using stablecoins for transaction settlements and plans to announce more partnerships and application scenarios this year to continue advancing the integration process.

In the accelerating process of integration between traditional financial institutions and the crypto market, this payment giant is breaking through in multiple fields, building its own encryption business landscape, and preparing for the transformation of the future financial ecosystem.