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VISA integrates USDC support on the Ethereum blockchain

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Ethereum $10,000 Prediction & Visa Integrating Ethereum Based USDC!

VISA integrates USDC support on the Ethereum blockchain

VISA integrates USDC support on the Ethereum blockchain
CONTENT

  • Visa adds support for USDC stablecoin

  • The payment company is actively investing in cryptocurrency startups

  • Visa is committed to seamlessly integrating cryptocurrencies into the traditional financial system

International consortium of news organizations developing transparency standards.

More than 60 million merchants working with the Visa payment system will be able to accept and make payments in USDC stablecoins via the Ethereum blockchain. 

The statement said that Visa will not act as the custodian of the digital coin. As part of the partnership, Circle will work with Visa to select credit card issuers that integrate USDC software into their platforms and begin accepting and sending payments in stablecoin. Forbes reports..

Once the integration process is complete, companies will be able to make international payments in USDC. The received coins can be converted into national currency and spent in any place where Visa cards are accepted for payment.

VISA integrates USDC support on the Ethereum blockchain

In the future, it is planned to issue credit cards for businesses with support for direct payments in USDC.

“We will make the world’s first corporate card with a balance in USDC. This move should significantly improve the usefulness of stablecoin for Circle’s business customers, ”said Visa Head of Cryptocurrency, Guy Sheffield..

The crypto community received the news with enthusiasm. A well-known crypto investor and founder of Mythos.Capital tweeted that Visa is gradually phasing out traditional bank ledgers in favor of blockchain..

source: https: //t.co/GCFJ48cycc

– Ryan Sean Adams – rsa.eth (@RyanSAdams) December 2, 2020

Visa invests in blockchain

Visa focuses on investing in startups and developing patents. Last year, the company invested for the first time in the Anchorage blockchain project together with other large investors. The total amount of funding was $ 40 million.

Anchorage, founded in 2017, creates infrastructure for working with digital currencies, and is also working on technology for storing assets issued on the blockchain. The project team has already released several groundbreaking solutions, including a privacy technology called Zether. JPMorgan uses it in their cryptocurrency project.

All crypto-heavy

Earlier, the editors of BeInCrypto reported that the head of Visa, Alfred F. Kelly, recognized the potential of cryptocurrencies, calling them a natural complement to fiat money. Despite the fact that he still does not consider them to be a full-fledged replacement for traditional currencies, digital coins, backed by fiat, in his opinion, represent a promising innovative payment technology..

VISA integrates USDC support on the Ethereum blockchain

Earlier this year, the company published an article on where digital money should be in its development plans, noting that it prioritizes mutually beneficial partnerships with cryptocurrency startups. Today’s announcement suggests that Visa’s words do not diverge from deeds and the company intends to actively develop in this direction..

Also today it became known that the payment giant issued a credit card with a cashback function in bitcoin..

 

 

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