Visa expanded its USDC stablecoin settlement capabilities to Solana, forming partnerships with Worldpay and Nuvei.
Visa expanded its USDC stablecoin settlement capabilities to Solana, forming partnerships with Worldpay and Nuvei for pilot programs.
The company said it already moved millions of USDC over the Solana and Ethereum blockchains to settle fiat payments through VisaNet.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Visa announced the expansion of its stablecoin settlement capabilities to include the Solana blockchain, in addition to existing capabilities on Ethereum. The company said it partnered with merchant acquirers Worldpay and Nuvei for pilot programs.
As part of live pilots, Visa has already moved millions of USDC between its partners over the Solana and Ethereum blockchain networks to settle fiat-denominated payments authorized over VisaNet,Cuy Sheffield, Head of Crypto at Visa, stated that the move aims to speed up cross-border settlements and provide a stablecoin payment option for clients.
Worldpay and Nuvei are fintech companies serving merchants across various sectors. With Visa’s support, they expect to offer merchants the option to receive payments in stablecoins like USDC. This announcement also marks Visa’s inclusion of Solana as a supported blockchain for settlements, making it one of the first major payment companies to do so.© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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