The word just came out, that Visa, the world’s largest payments processor, is currently testing a system that would allow users to pay Ethereum gas fees with their Visa cards. This system would use the ERC-4337 standard, which allows smart contracts to act as wallets.
The use of Visa to pay Ethereum gas fees would have a number of benefits, including:
- Making it easier for people to use cryptocurrencies. Currently, one of the biggest barriers to entry for people who want to use cryptocurrencies is the need to buy and store Ether (ETH), the native cryptocurrency of the Ethereum blockchain. By allowing users to pay gas fees with their Visa cards, Visa will make it much easier for people to use cryptocurrencies without having to worry about managing their ETH balance.
- Reducing the volatility of gas prices. Gas prices are determined by supply and demand, and they can be very volatile, especially during periods of high network congestion. By allowing users to pay gas fees in fiat currency, Visa will help to reduce the volatility of gas prices, making it more predictable for users and businesses.
- Making it easier for businesses to accept cryptocurrencies. Currently, one of the biggest challenges for businesses that want to accept cryptocurrencies is the need to manage gas fees. By allowing businesses to accept Visa cards for gas fees, Visa will make it much easier for them to accept cryptocurrencies without having to worry about managing gas fees.
In addition to the benefits mentioned above, there are a few other potential uses for Visa’s system for paying Ethereum gas fees. For example, it could be used to:
- Make it easier for people to participate in decentralized finance (DeFi) applications. DeFi applications are built on the Ethereum blockchain and allow users to perform financial transactions without the need for a third party, such as a bank. By allowing users to pay gas fees with their Visa cards, Visa could make it easier for people to participate in DeFi applications.
- Enable cross-chain transactions. Cross-chain transactions allow users to transfer assets between different blockchains. Visa’s system for paying Ethereum gas fees could be used to facilitate cross-chain transactions, making it easier for users to move assets between different blockchains.
These are just a few of the potential uses for Visa’s system for paying Ethereum gas fees. As the adoption of cryptocurrencies continues to grow, it is likely that we will see even more innovative ways to use this technology.
The development of Visa’s system for paying Ethereum gas fees is a positive development for the crypto space. It has the potential to make it easier for people to use cryptocurrencies, reduce the volatility of gas prices, and make it easier for businesses to accept cryptocurrencies. All of these factors could lead to increased adoption of cryptocurrencies, which would be bullish for crypto holders.
In addition to the benefits mentioned above, there are a few other reasons why Visa’s system for paying Ethereum gas fees could be bullish for crypto holders. For example, it could:
- Increase the liquidity of cryptocurrencies. By making it easier for people to buy and sell cryptocurrencies, Visa’s system could help to increase the liquidity of these assets, making them more attractive to investors.
- Drive down the cost of transactions. By reducing the need for users to buy and store ETH, Visa’s system could help to drive down the cost of transactions on the Ethereum blockchain.
- Promote innovation in the crypto space. By making it easier for people to use cryptocurrencies, Visa’s system could help to promote innovation in the crypto space, leading to the development of new and exciting applications for these assets.
Overall, I believe that Visa’s system for paying Ethereum gas fees is a positive development for the crypto space. It has the potential to make it easier for people to use cryptocurrencies, reduce the volatility of gas prices, and make it easier for businesses to accept cryptocurrencies. All of these factors could lead to increased adoption of cryptocurrencies, which would be bullish for crypto holders.
Other articles you might like:
Cold Wallet Review: BitBox02 Might Be The Best Crypto Cold Storage
Safeguarding your digital assets is of paramount importance, especially when it comes to holding coins for the long term. With numerous hardware wallets available in the market, finding the right one can be a daunting task. However, the BitBox02 hardware wallet stands out as an impressive contender that strikes a delicate balance between security and…
Best Crypto Wallets: Ellipal Titan Mini Review | Airgapped, Secure, Robust Cold Wallet
The Ellipal Titan Mini is a highly secure hardware wallet for cryptocurrencies, with an air-gapped system, multi-layer security protocols, and integrated biometric authentication. It’s affordable, durable, supports numerous blockchain systems, and has an easy backup process using an SD card and 24-word seed phrase.
Best Crypto Cold Wallets in 2025 | The Ultimate Hardware Wallets Guide
In recent years, cryptocurrencies have gained a lot of popularity, with Bitcoin leading the way. As more people invest in cryptocurrencies, the need for secure storage solutions has become increasingly important, especially after the events of 2022. For those who are new here, I will briefly point out here, that in late 2022 we witnessed…
Crypto-Corner 