Visa has announced that it will use USD Coin (USDC), a fixed cryptocurrency, for closing accounts in the payment network system.
With the direct acceptance of payments in USD Coin, Visa plans to build a new bridge between digital and traditional currencies.
Cryptocurrency partners with Visa
Visa announced they are starting a joint pilot program with Crypto.com, hoping to bring more options to their partners next year.
Cuy Sheffield, Head of Cryptocurrency at Visa, said: “ We have seen many of our crypto partners build and use their transactions on USDC. Many of them pay their employees and vendors with stablecoin. The agreement we have made is an indication of natural harmony, ”he said.
The USD coin is a stablecoin, which means that its value is directly linked to the US dollar.
After Visa’s statement, which has 3.3 billion credit card users worldwide, the prices of Bitcoin and altcoin are on the rise.