#Visa ❓

Is Visa Really Bad for Crypto? Polygon’s Bjelic Weighs In

Polygon co-founder Mihailo Bjelic recently sparked discussion on X about Visa’s role in the crypto space, challenging the narrative that Visa’s merchant fees are “oppressive.” Responding to Ethereum’s Vitalik Buterin, who highlighted Visa’s multi-percentage-point fees on point-of-sale transactions, Bjelic argued that these fees reflect competitive market dynamics, not oppression. He called them potentially “extractive” but a standard business practice.

Bjelic also addressed gaming platforms self-censoring adult content (including games promoting rape and incest) to avoid Visa’s potential bans. He views this as lawful compliance or brand protection, not oppression, emphasizing that expecting Visa—or crypto wallets—to support such content is unethical.

The debate hints at deeper concerns about centralization in crypto, a space built on decentralization. Visa’s recent moves, like partnering with Tangem for a crypto-fiat hardware wallet, aim to bridge traditional and digital finance. But are these steps toward seamless payments a threat to crypto’s ethos, or just business as usual?

What’s your take? Are Visa’s practices harmful to crypto, or is this just market competition at play?