Visa's move to integrate credit cards for on-chain gas fee settlement can transform crypto transactions, offering convenience and accessibility to users
Visa, a global leader in payment solutions, is taking bold steps in the world of cryptos by embarking on an innovative experiment. The company is testing a groundbreaking solution that could revolutionise how users pay on-chain gas fees - a common pain point in crypto transactions. By enabling users to pay these fees using their Visa cards directly, Visa aims to simplify the user experience and introduce a new level of convenience.
The experiment addresses crypto users' significant challenge of managing Ethereum (ETH) balances to cover fluctuating gas fees. Traditional Ethereum transactions involve users acquiring ETH from exchanges or on-ramp services and transferring it to their wallets to cover variable gas fees. This process can be cumbersome and lead to overspending or insufficient ETH holdings, creating user complexities.