Visa expands its USDC settlement capabilities onto the Solana blockchain and announces pilots allowing Visa to send USDC to payment processors Worldpay and Nuvei.
Visa began testing USDC in 2021 in collaboration with Crypto.com to test stablecoin settlement on the issuance side. The resulting pilot leveraged Ethereum-based USDC to receive payments from Crypto.com for cross-border volume on its Australian card program.
“Circle built USDC to provide a functional digital dollar that could move at the speed of the internet to facilitate secure, reliable payments.” Worldpay merchant solutions president Jim Johnson said that the Visa’s USDC settlement capability would enable it to offer merchants more choices for receiving funds and better manage its treasury operations.
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