Visa is breaking the crypto space with amazing news. This will definitely help the mainstream adoption of crypto and Bitcoin.
It’s been just revealed that Visa is moving to allow payment settlements using USDC.
“Visa Inc said on Monday it would allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry,” Reuters notes.
Visa has launched the pilot program with payment and crypto platform Crypto.com and plans to offer the option to more partners later this year, it said.
Using the Ethereum blockchain
Another essential issue worth noting is something that involves the Ethereum blockchain. Check out the tweet below.
“Visa’s latest step, which will use the ethereum blockchain, strips out the need to convert digital coin into traditional money in order for the transaction to be settled.”
— Bloqport (@Bloqport) March 29, 2021
It’s been also revealed that Visa said it has partnered with digital asset bank Anchorage and completed the first transaction this month — with Crypto(.)com sending USDC to Visa’s Ethereum address at Anchorage.
Crypto mass adoption
The amazing Visa-related news comes amidst large efforts for obtaining crypto mass adoption.
You probably know by now that Tesla Inc boss Elon Musk said last week that customers could buy its electric vehicles with BTC, marking a significant step forward for the king coin’s use in commerce.
“We see increasing demand from consumers across the world to be able to access, hold and use digital currencies, and we’re seeing demand from our clients to be able to build products that provide that access for consumers,” Cuy Sheffield, head of crypto at Visa, said.
Also, trading veteran Peter Brandt predicts a massive Bitcoin bullish move this year. In a new interview on Real Vision Finance, Brandt said that Bitcoin could boost its price by 260% from its current price.