https://youtu.be/X3eoLHVEbHo
VISA USING ETHEREUM | 📒 ⚠️📒 ⚠️ ETHEREUM PRICE RPEDICTION 🚀🚀
Visa is piloting transaction settlement in stablecoins on the Ethereum blockchain.
The credit card provider that moves billions of dollars each day in 200 markets today announced it accepted the first settlement payment in U.S. Dollar Coin (USDC), a cryptocurrency pegged to U.S. dollar in a 1:1 ratio, from its global crypto wallet partner Crypto.com over the Ethereum blockchain. This marks the launch of a pilot which would allow Crypto.com to settle a portion of its obligations for the Crypto.com Visa card program in USDC. On the backend, Anchorage, the first federally chartered digital asset bank and Visa’s digital currency settlement partner, acted as a custodian, with funds being sent from Crypto.com to Visa’s Ethereum address at the bank. Visa plans to extend the offer to additional partners later this year.
The existing settlement process requires Visa’s business partners to settle transactions in fiat currency that the company accepts, meaning part of a partner’s crypto treasury reserves would have to be converted at an additional cost of a conversion rate.
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