Earlier today, Reuters published a report saying that Visa and Mastercard are halting new partnerships with cryptocurrency firms. Visa crypto chief Cuy Sheffield called the news inaccurate regarding Visa.

“We continue to partner with cryptocurrency companies to improve fiat on-ramps and off-ramps, as well as progress on our product roadmap to create new products that can facilitate stablecoin payments in a secure, compatible, and convenient way.” . Sheffield wrote On twitter.

He added that fiat-backed digital currencies on public blockchains could play an important role in payments and invited crypto firms to reach out if they are interested in partnering for payments.

The Reuters quote attributed to Mastercard did not explicitly say they were halting deals. Last week, the Australian arm of the card company announced a deal with Immersve for a novel card that allows payments while maintaining self-custody of cryptocurrencies. Most of the existing cards are linked to exchanges that hold cryptocurrencies in custody.