Visa to facilitate USDC payments thanks to latest collaboration. Visa has teamed up with the Circle blockchain services business to make USD Coin (USDC) stablecoin transactions compliant with some credit cards.
A Forbes article on Wednesday pointed out “After Circle itself graduates from Visa’s Fast Track program, likely sometime next year, Visa will issue a credit card that lets businesses send and receive USDC payments directly from any business using the card,”
Cuy Sheffield, Visa’s head of crypto, told Forbes “This will be the first, corporate card that will allow businesses to be able to spend a balance of USDC.”
Along the way, collaboration would promote USDC transactions between cross-border Visa-friendly companies. The payment giant also announced a deal with BlockFi on Tuesday to bring a credit card to the market that pays out reward points in Bitcoin (BTC).
Twenty-five wallet providers have jumped on the card provider’s Fast Track plan in recent days, setting the stage for Visa’s USDC move, Forbes noted.
Sheffield posited “We continue to think of Visa as a network of networks […] Blockchain networks and stable coins, like USDC are just additional networks. So we think that there’s a significant value that Visa can provide to our clients, enabling them to access them and enabling them to spend at our merchants.”
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