These companies hopped on the crypto train -2-
— Visa, Train, Companies, Crypto, Revenue, Company, Hopped, Billion, Exposure, Paypal — 1 min read
Visa saw $3.5 billion in payment volume last fiscal year related to crypto-linked card programs. FIS provides merchant-acquiring services for crypto wallets, but crypto is "very much on the margins" for the company. Robinhood generated $54 million in crypto revenue during the first quarter, representing 18% of the company total. Signature Bank is "the leading depository bank" for digital-currency ecosystem, analyst David Long says. The bank's recent stock selloff is "overdone," he says, noting that the company has more than $26 billion of cash on its balances sheet and capacity to borrow. The price of bitcoin has dropped more than 40% this year as the crypto industry has come under pressure. Source