Visa payment system added support for USDC stablecoin

The international payment system Visa will allow the use of the USD coin (USDC) stablecoin for settlements on its network.The peculiarity of this solution is thatstablecoin will not convert to fiat currencyat the time of transfer. Visa Chief Product Officer Jack Forestell said the decision to add USDC support is a response to high demand among cryptocurrency companies. Reuters reports.

To this end, Visa has launched a pilot program incooperation with the Crypto.com service. During the year, the company intends to expand the list of partners after consultation with clients, investors and regulators. Thus, Visa becomes the first major payment network to use stablecoin as a currency for settlements. Until that time, Visa only allowed payments in fiat currencies.

“We are seeing an increase in customer demand duringaround the world for the ability to access, hold and use digital currencies. In addition, we see a demand among our clients for creating products that would provide such access. "- said the head of the cryptocurrency direction Visa Kai Sheffield.

Under normal conditions, when paying with cryptocurrency, itconverted into traditional money, which makes doing business more expensive and difficult. The new program will eliminate the need to convert digital currencies into traditional ones for transactions.

A digital bank also takes part in the projectAnchorage. Partners have already completed their first transaction, sending USDC from Crypto.com to Visa's Anchorage address. Visa first approached them in 2019 with the idea to combine the two platforms for secure and efficient payments based on digital currencies, Anchorage said.

“Today's announcement marks an importantattainment. Now we will be able to meet the needs of the financial technology industry, who need to conduct transactions in stablecoins or cryptocurrencies. This is a continuation of our daily work on the secure implementation of payments in various currencies. "- said Jack Forstell, director of product for Visa.

Visa's new program is described as “onea small step forward ”for a payment platform, but at the same time“ one giant step forward ”for digital asset proliferation. In the future, Visa plans to add support for digital currencies of central banks to its network and an interface that allows you to buy and sell bitcoins through banks.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bybit	https://bybit.com	7.5
3	OKEx	https://okex.com	7.1
4	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features — futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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