• Home
  • Login
  • Register
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
SUBSCRIBE
No Result
View All Result
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
Currency Insider
No Result
View All Result

VISA Trialing USDC Settlement – Eyes Future Support for CBDCs

by CBDC Insider
March 30, 2021
in Business, US
Reading Time: 1min read
0
VISA Trialing USDC Settlement – Eyes Future Support for CBDCs
Share on FacebookShare on Twitter

RELATED STORIES

Amid crypto winter, central banks rethink in-house digital currencies

Amid crypto winter, central banks rethink in-house digital currencies

January 24, 2023
Digital currency firm Amber reduces employee count in Hong Kong

Digital currency firm Amber reduces employee count in Hong Kong

January 22, 2023

A fresh announcement from Visa has moved markets today.  The payment processing giant let news break that it is actively trialing the use of stablecoins in the settlement of transactions on its network.

Settling in USDC

For the time being, this capability is being trialed in a pilot program involving both Crypto.com and Anchorage.  The stablecoin of choice is none other than USDC – the second largest coin of its type available in today’s markets.

“Visa’s standard settlement process requires partners to settle in a traditional fiat currency, which can add cost and complexity for businesses built with digital currencies. The ability to settle in USDC can ultimately help Crypto.com and other crypto native companies evaluate fundamentally new business models without the need for traditional fiat in their treasury and settlement workflows. Visa’s treasury upgrades and integration with Anchorage also strengthen Visa’s ability to directly support new central bank digital currency (CBDC) as they emerge in the future.”

Visa indicates that its choice of USDC was predicated on 3 requirements – Demand, stability, and security.  All three of which were satisfied by USDC.

Read more: https://www.securities.io/visa-trialing-usdc-settlement-eyes-future-support-for-cbdcs/

Previous Post

Bank of Jamaica Announces Prototype CBDC Partner

Next Post

China Pushes Toward Global Rules For CBDCs

Next Post
China Pushes Toward Global Rules For CBDCs

China Pushes Toward Global Rules For CBDCs

© 2022 CBDC Insider

No Result
View All Result
  • Home
  • Map
  • Reading Library
  • CBDC Think Tank
  • Partners
    • DEA
  • Login
  • Register