Visa has added a direct settlement feature to its payment network in the USDC stablecoin on the Ethereum blockchain.
As part of the pilot program, a new serviceis tested only in cooperation with the Crypto.com platform, but from next year, other participants will begin to be attracted to the project. The settlement agent is the Anchorage cryptobank.
In fact, Visa became the first major paymentnetwork that added support for stablecoins without accompanying conversion mechanisms to fiat. According to the company's product director Jack Forestell, the innovation will helpbusiness in the field of cryptoindustry and fintech, which is based on settlements in digital assets.
The payments giant believes the support for USDC marks a huge step towards integrating digital money into the financial system.
Since last month, Visa has also been testing an experimental suite of services that allows banks to offer cryptocurrency-based services.
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