Visa is experimenting USDC Blockchain Payments!
Hi HODLers, Hiveans and Lions,
Interestingly and while the Crypto Market is definitely cooling down, companies are still experimenting and looking for opportunities in the space.
Payment is an obvious use case and currently the most developped one.
Visa started testing $USDC for treasury operations back in 2021.
The company ran a pilot program with crypto exchange Crypto.com, using the Ethereum blockchain for settling cross-border payments using the Crypto.com debit cards.
“By leveraging stablecoins like USDC and global blockchain networks like Solana and Ethereum, we're helping to improve the speed of cross-border settlement and providing a modern option for our clients to easily send or receive funds from Visa’s treasury,”
Cuy Sheffield, head of crypto at Visa, said in a statement.
Even if I am not really sure why they are choosing Solana to settle these USDC payments, this is still a positive for the space. They probably chose Solana as it is backed by a lot of Cuy's friends ;). I am kidding but might be close to the truth.
It definitely pumped Solana by 2% which is not bad considering the current Crypto Bear market.
Stay safe,
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I believe stablecoins are the most important thing to bridge with the fiat world. When you want to cash out your profit, it is natural to convert it into stablecoins.
Many underestimate the importance of stable coins in crypto, especially when it comes to the spending nature of such currencies. No one will spend BTC on the daily basis, thus the need for stable coins in the mass adoption equation.