Visa to enable settlements in USDC stablecoin

Visa, the payments giant, and crypto service Crypto.com have launched a pilot program to integrate settlements in USD Coin (USDC) from the Centre consortium. The information is contained in the company’s press release.

The solution runs on the Ethereum blockchain. Visa representatives noted that it will eliminate the need to convert digital assets into fiat to complete a transaction.

The company is also working with Anchorage, a crypto bank focused on institutional clients. It plans to launch the ability to settle in USDC after testing and discussions with partners.

Visa has already conducted the first transaction: Crypto.com sent USDC to Visa’s Ethereum address at Anchorage.

Earlier the company revealed details of its cryptocurrency strategy, including Bitcoin, other cryptocurrencies, as well as fiat-backed tokens and stablecoins.

Back in December 2020, Visa connected its global network to USDC and announced the launch of a card supporting payments in the stablecoin.

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