Visa said it would allow the USD Coin (USDC) stablecoin to be used for transactions. The payment system launched
As a reminder, USD Coin (USDC) is a cryptocurrency whose value is directly pegged to the US dollar.
Visa successfully completed the first settlement transaction: the company sent USDC to Visa's Ethereum address at Anchorage cryptobank.
For other transactions, the company explained,a similar algorithm will be carried out: when paying with a cryptocurrency card, the digital currency is converted into "ordinary" fiat money. The crypto wallet will be able to deposit them to the connected bank account.
Supporting digital currencies as a new type of settlement currency marks an important step for Visa's network strategy, the company notes.
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