Visa has been supporting crypto for a really long time now, and the support continues.
The mass adoption of digital assets is crucial for the crypto space and there seem to be more and more moves in this direction taking place these days.
Integrating USDC payment methods with Visa credit cards
It’s been just revealed that Visa is partnering with US Dollar Coin (USDC) issuer Circle Internet Financial to integrate USDC payment methods with Visa credit cards.
These two financial services are working on letting Visa cardholders send and receive the ETH-based stablecoin, according to the latest reports coming from Forbes and cited by the Daily Hodl.
It’s been also reported that this partnership will allow Visa-supported businesses to send USDC to any other businesses that are supported by Visa around the globe.
After the funds are converted to the national currency of the receiving business, they will be able to spend the money where Visa is accepted.
The Daily Hodl also notes that Circle is a part of Visa’s Fast Track program along with 25 crypto wallet providers that can now test out the new USDC feature.
Another plan is for Visa to release a credit card that allows Visa-supported merchants to send and receive USDC to other merchants supported by Visa.
Visa’s head of crypto addressed the subject
Visa’s head of crypto Cuy Sheffield said the following:
“This will be the first corporate card that will allow businesses to be able to spend a balance of USDC and so we think that this will significantly increase the utility that USDC can have for Circle’s business clients.”
He also said: “We continue to think of Visa as a network of networks. Blockchain networks and stablecoins, like USDC, are just additional networks. So we think that there’s a significant value that Visa can provide to our clients, enabling them to access them and enabling them to spend at our merchants.”
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