Visa will add payments in USDC stablecoin

Payment giant Visa and cryptocurrency service have launched a pilot program to integrate settlements in the USD Coin (USDC) stablecoin from the Center consortium. This is stated in a press release from the company.

The solution works on the Ethereum blockchain. Visa said it will eliminate the need to convert a digital asset to fiat to complete a transaction.

The company also partnered with the institutional-oriented cryptobank Anchorage. She plans to launch the USDC settlement option after testing and discussing the initiative with partners.

Visa has already completed its first transaction: sent USDC to the payment giant’s Ethereum address in Anchorage.

The company previously disclosed details of a cryptocurrency strategy that includes bitcoin, other cryptocurrencies, and fiat-backed tokens and stablecoins.

Recall that in December 2020, Visa connected its global network to USDC and announced the release of a card with support for payments in stablecoin.

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