March 28, 2024

Visa and Circle issue corporate card for USDC payments

Visa has entered into a partnership with Circle. Cooperation between the companies will allow issuing a credit card underUSDC.

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Circle will help integrate software into the Visa payment service platform in USDC- Visa Fast Track.

Visa's Fintech partners will be able to connect to the ecosystem and issue their own credit cards.This will allow any company with such a card to receive and send USDC payments.

The company notes that this will be the first corporate card with USDC.This solution will increase the benefits for Circle's business customers.

More than 60 million merchants will be able to benefit from USDC payments.capitalization of $2.9 billion and ranks 13th among the most expensive cryptocurrencies.

It is estimated that $120 trillion in payments and bank transfers are made each year.Each payment costs $50, regardless of size.

So far, the benefits of payments at USDC have been minimal, despite the growthCapitalization.

USDC payments worth a few cents can revolutionize the market.

According to Mike Novogratz in a tweet, this is very positive news for the crypto industry:

Visa plans to expand the market further through the integration of Bitcoin, Ethereum and Ripple payments.

In February 2020, the Coinbase partnership and Visa led to the release of Coinbase Card in November.This allows Americans to pay with cryptocurrency wherever the Visa card is accepted and receive 4% cashback.

Visa has also included 25 cryptocurrency wallets in its Fast Track program.They can be integrated into USDC payments.

In addition to the partnership, the company has become an active investor in crypto-startups.

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