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Visa To Offer Payment Settlement in USDC Stablecoin

  • Visa becomes the first major network to use a stablecoin.
  • Crypto bank Anchorage will support Visa’s move.
  • Their team will work with Crypto.com to support USDC.

Visa becomes the first to use crypto for settlements. In addition, the team will work with Crypto.com on a pilot program. Moreover, this aims to adopt USDC.

Stablecoins have many unique qualities as a virtual currency. USDC’s value is pegged to USD. With this, it resists volatility by nature.

Visa Vice-President Jack Forestell showed his delight. Moreover, he said that today marks a major event for their team. With this move, they can address fintech needs with crypto.

Visa thinks that the decision is a small step forward for them. On the other hand, they believe it’s one giant step forward for crypto adoption. Meanwhile, they also believe that traders and crypto users will benefit greatly.

Crypto.com CEO Kris Marszalek also praised the move. He pointed out the growth of the crypto market over the last year. Moreover, he believes that partners that understand market potential are very essential.

The CEO expressed his joy as well. He said that they are excited to deepen their ties with Visa. In addition, making an exciting project will achieve this.

Meanwhile, Visa will also partner with crypto bank Anchorage for USDC support. Anchorage recently got approved as a digital asset bank. Now, the company will also support Visa’s new project.

Anchorage President, Diogo Mónica has high hopes for the future. He said that this will give users the option to directly settle with Visa.

Visa hopes to increase such ties in the future. Before this, Visa rival Mastercard also showed interest in the crypto space.

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Lisa Walters

Lisa is excited about all things tech. She devotedly follows blockchain and crypto updates, sharing her passion through writing about it. She is a regular contributor for cryptocurrency news and articles.

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