Analysis Crypto by Thebittimes.Com

Visa’s game-changing $100 million fund for generative AI ventures is not only reshaping the future of payments but also driving an uptrend for startups like InQubeta and The Graph. Visa $100M fund aiming at AI innovations Visa, a global leader in payments, has announced a significant move towards advancing artificial intelligence (AI) in the field of commerce and settlements. The company is establishing a new fund with a whopping $100 million allocation dedicated to investing in generative AI ventures. This initiative, unveiled on October 2nd, is designed to support companies that are actively engaged in the development of generative AI technologies and their applications within the domains of commerce and payments. The selection and oversight of these investments will be managed by Visa’s corporate investment arm, Visa Ventures, which has been instrumental in fostering inventions in the payments and commerce sector since its inception in 2007. Gen...

The crypto industry witnessed the downfall of the FTX empire throughout last week. Following this, an array of platforms severed ties with the crypto exchange and its founder Sam Bankman Fried. Prominent payments processor, Visa was the latest one to do so. The payments giant went on to terminate its agreements with the troubled crypto exchange. Visa and FTX entered a partnership back in October. Through this, the firm aimed to roll out debit cards in over 40 countries that allowed crypto payments. A Visa spokesperson commented about the same and said, “The situation with FTX is unfortunate and we are monitoring developments closely. We have terminated our global agreements with FTX and their U.S. debit card program is being wound down by their issuer.” As mentioned earlier, Visa wasn’t the only platform that was limiting its association with FTX. Here’s how Kraken has been dealing with the collapse of FTX Earlier today, prominent crypto ...