Billionaire Mark Cuban has confirmed that his NBA team the Dallas Mavericks continues accepting DOGE (Dogecoin) as a payment method. Cuban made this known while replying to a question on one of his tweets on X. In an equally exciting development, VISA has partnered with Web3 firm Transak to facilitate efficient cryptocurrency withdrawal via debit card in 145 countries; details are below.
Mavericks Score Big: Dogecoin’s Ongoing Acceptance by Dallas Mavericks Signals Growing Crypto Legitimacy
This year 2024 has surely been an eventful year for the crypto world so far. Beginning with the Spot Bitcoin ETF approvals early this month to Cuban’s recent affirmation of continuous Dogecoin acceptance with the Mavericks. The basketball team started accepting the Elon Musk-backed meme coin back in 2021 following Bitpay’s announcement of Dogecoin payment infrastructure for merchants and consumers. The Mavericks were the first to jump on the novel offer for buying tickets and other products online.
Cuban recently organized an AMA (Ask Me Anything) via his X account, where a popular Dogecoin enthusiast asked whether “the Mavs still accept Dogecoin”. Cuban replied with a straightforward “Yes” which still ripples through the industry, giving another thumbs-up to Dogecoin’s reputation. Dogecoin, launched in 2013 as a joke cryptocurrency, has enjoyed the unfailing support of billionaire Elon Musk, consequently driving it to an all-time high of $0.737 in 2021.
It also turns out Cuban’s Mavericks had a pleasant history with cryptocurrency before their Dogecoin debut. In 2019, the Dallas team was also one of the first NBA teams to accept Bitcoin as a form of payment for tickets and merchandise. The team also went into a 5-year partnership with the now-defunct cryptocurrency brokerage Voyager Digital to teach fans and Dallas natives about DeFi and cryptocurrencies.
Visa Launches Crypto Withdrawals Via Debit Card in 145 Countries
American multinational payment card firm Visa has announced it will enable crypto-to-cash withdrawals via Visa Direct. In a partnership announcement yesterday, Transak, a top crypto and NFT payment infrastructure service said its collaboration with Visa will enable users in over 145 nations to easily “convert their cryptocurrency holdings into fiat currencies.”
There are many interesting perks to this novel Visa Direct feature. First, it’s intended to bridge the gap between crypto and fiat conversions in many exchanges or companies that transact in crypto. That way, crypto money becomes readily accessible to consumers in record time without any need for a series of rigorous conversion processes. Users will no longer need to stack their crypto in stablecoins or non-regulator-friendly systems.
More interesting is how the improvement fits perfectly with Visa’s wide global acceptance. Visa cardholders can spend their money in over 130 million locations where Visa is accepted, according to Yanilsa Gonzalez-Ore, North American Head of Visa Direct.
Transak also brings its robust portfolio of over 40 cryptocurrencies and its presence in 350+wallets and games to the table. Visa users can process crypto-to-fiat transactions in real-time and expect to be credited their cash in at most 30 minutes. The pros would include freedom from common frauds related to crypto conversion and skipping the unstable compliance terrain.
“We believe this partnership is an inflection point for Web3 as a whole. Now, millions across the globe have a straightforward way to cashout their digital asset holdings to their local currency in real-time and intuitively. They no longer have to walk the treacherous path of compliance uncertainty or face risks of fraud — Transak and Visa have them covered for over 40 cryptocurrencies,” said Sami Start Transak CEO.
The advancement of Visa into crypto-fiat conversion – and the continuous mainstream adoption of cryptocurrency – show that the industry is progressing geometrically. The world continues to drift towards decentralized finance and the recent events in the crypto industry prove naysayers wrong once again.