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| Visa allows the use of the USDC cryptocurrency |
Visa said Monday it will allow USDC to process transactions on its payments network, the latest sign of the growing adoption of digital currencies in the mainstream financial industry.
Visa told Reuters it has launched a pilot program with the payment and crypto platform Crypto.com and plans to make this option available to other partners later this year.
Bitcoin, the most popular cryptocurrency, reached its highest level in a week, rising 4.5% to $ 58,300, and peaking at $ 61,000 at the start of the month.
Visa then confirmed the news in a statement that USDC is a stable cryptocurrency, whose value is directly linked to the US dollar.
Visa took this step because financial companies like BNY Mellon, BlackRock and Mastercard are taking steps to increase the use of cryptocurrency for investments and payments.
Elon Musk, a leading supporter of Tesla president (Elon Musk), said last week that customers can purchase Tesla electric cars with Bitcoin to encourage people to use more digital currencies every day.
“We see an increasing demand for access to, ownership and use of digital currency by consumers around the world, and we hope that customers can develop products that give consumers access rights.” (Coy Sheffield) Coy, Director of Cryptography at Visa Sheffield.
If the customer wants to pay with Crypto.com Visa card, he must also convert the digital currency in the cryptocurrency wallet into regular currency.
Cryptocurrency wallets deposit traditional fiat currencies into bank accounts and connect via Visa at the end of the day to handle all transactions, adding to the cost and complexity of business.
Visa's latest move is to use the Ethereum blockchain, which eliminates the need to convert digital currencies into regular cash to process transactions.
Visa announced that it has partnered with Digital Asset Bank Anchorage and completed its first transaction this month as Crypto.com sent USDC to Visa in Anchorage. Ethereum address.