Payments company Visa said it is not slowing down its cryptocurrency plans, despite reports hinting otherwise amid a brutal bear market.

A Reuters article claiming that Visa and Mastercard have slowed down cryptocurrency promotion is “inaccurate” when it comes to Visa.

Despite the problems and uncertainties in the crypto ecosystem, Visa believes that fiat digital currencies running on public blockchains have the potential to play an important role in the payments ecosystem.

Visa has been working with the cryptocurrency space for some time, but recently the pace has slowed: In November, the company terminated its global credit card agreement with the failed cryptocurrency exchange FTX.

The company had announced plans to issue cards in 40 new countries as part of a “long-term global partnership,” but broke the agreement after the cryptocurrency company went bankrupt.