Visa continues to adjust itself to crypto, now planning to modernize cross-border money movement through USDC stablecoin and the Solana blockchain
and use the Solana blockchain to begin pilot programs with merchant acquirers – Worldpay and Nuvei.
Visa has already been collaborating with the two top blockchain platform Ethereum for faster payments settlement via VisaNet. The system offered by Visa helps clear, settle and transfer billions of USD worth of transactions between users’ banks and merchants’ banks on a daily basis, which remains invisible for users of Visa cards.conduct cross-border settlement faster and enable users to seamlessly send and receive money from Visa treasury, according to Visa’s chief of crypto, Cuy Sheffield. Basically, USDC together with Solana and Ethereum chains will help Visa improve their way of moving money transnationally.
This is when Visa also partnered with the Ethereum chain to utilize it in their pilot with Crypto.com for card-based payments in Australia. Before that pilot took place, transnational purchases made with Crypto.com cards issued in a partnership with Visa took days and expensive international wire transfers to settle.
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