Visa and Mastercard have reportedly decided to delay launching new partnerships with crypto companies until there is more clarity in the regulatory framework and the market conditions improve. The spokesperson at Visa stated that the recent high-profile failures in the crypto industry served as an important reminder that there was still a significant amount of work to be done before crypto could be widely adopted as a part of mainstream payments and financial services. However, Visa’s head of product, Cuy Sheffield, disputed the accuracy of the recent report, affirming that Visa remains committed to partnering with crypto companies to improve fiat on/off ramps and develop new products to facilitate stablecoin payments that are secure, compliant, and user-friendly.