{"id":73634,"date":"2023-02-06T12:23:50","date_gmt":"2023-02-06T10:23:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73634"},"modified":"2025-09-09T15:19:23","modified_gmt":"2025-09-09T12:19:23","slug":"visa-confirms-plans-to-integrate-settlements-in-stablecoins","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/visa-confirms-plans-to-integrate-settlements-in-stablecoins\/","title":{"rendered":"Visa Confirms Plans to Integrate Settlements in Stablecoins"},"content":{"rendered":"

Visa, the payments company, is seeking to develop \u201cmuscle memory\u201d for settlements that would enable converting digital assets into fiat currencies on its platform. Cointelegraph<\/a> reports.<\/p>\n

During the StarkWare Sessions 2023 conference in Tel Aviv, Visa’s head of the crypto division, Kai Sheffield, confirmed that the company was testing the possibility of carrying out settlement operations in the USD Coin <\/a> stablecoin (USDC) on Ethereum. He noted that these were high-value payments.<\/p>\n

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\u201cThis is one of the areas where we want to build muscle memory. Just as we can convert dollars and euros in cross-border transactions, we should have the ability to exchange between digital tokenised currencies and traditional currencies,\u201d Sheffield said.<\/p>\n<\/blockquote>\n

He reminded that Visa’s platform runs entirely on top of the interbank SWIFT system. Because of the limitations in the latter, the company cannot settle payments as often as it would like, Sheffield noted. Therefore, the firm is exploring the possibility of incorporating blockchain into its existing network.<\/p>\n

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\u201cOf course, we have experimented and publicly announced this. We have tested how, in practice, settlement payments [in stablecoins] would work,\u201d the head of Visa’s crypto division clarified.<\/p>\n<\/blockquote>\n

In January, CEO Alfred Kelly expressed confidence<\/a> that \u201cstablecoins\u201d and CBDC<\/a> could play a meaningful role in the payments space. The firm has a number of initiatives in this direction, he said.<\/p>\n

According to Sheffield, Visa is considering how to apply new technologies to improve its existing interbank channels.<\/p>\n

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\u201cIf we think there are huge opportunities in this area, we simply must not stop developing,\u201d he concluded.<\/p>\n<\/blockquote>\n

Earlier, in December 2022, Visa conducted a proof of concept<\/a> for automated recurring payments via Ethereum-layer-2 solution<\/a> <\/a>StarkNet<\/a> from StarkWare.<\/p>\n","protected":false},"excerpt":{"rendered":"

The payments company Visa is seeking to develop \u201cmuscle memory\u201d for settlements that would allow converting digital assets into fiat currencies on its platform. Cointelegraph reports.<\/p>\n","protected":false},"author":1,"featured_media":73635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[157],"class_list":["post-73634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-visa"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=73634"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73634\/revisions"}],"predecessor-version":[{"id":73636,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73634\/revisions\/73636"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/73635"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=73634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=73634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=73634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}