Challenges Ripple and Stellar Lumens

2022-01-12 区块链达人

Plaid is a data network that develops tools that enable consumers to exchange financial information with applications and services such as Transferwise, Venmo, Abra Wallet and the crypto exchange Coinbase. Plaid’s products also enable users to monitor their spending and savings. The company is based in San Francisco, California and was founded in 2013 by Zach Perret and William Hockey.

Visa has announced the purchase of the Plaid financial services platform. The purchase by the payment giant is endowed with 5.3 billion dollars, which is twice the latest valuation of the start-up. The purchase is expected to be completed within the next 6 months, subject to regulatory approval. The merger of the two companies could fundamentally change the landscape for other cross-border payment platforms .

As a background to the acquisition, Visa has stressed the need to expand its core business. The payment company also wants to expand into new markets. The merger with Plaid has the potential to increase the payment capacity of Visa customers. In addition, the acquisition comes at a time when connectivity between financial institutions and users is becoming increasingly important. Plaid is one of the leading companies in this sector and its services extend to 11,000 financial institutions and more than 2,600 Fintech developers in the United States alone.

Author : Reynaldo