Stablecoin

Ethereum

Solana

<div class="textg" style="text-align: justify;font-weight: lighter;line-height: 1.3em;font-size: 15px;border-radius: 3px;color: #80909a;padding: 10px;background-color: #F4F6F9;margin-bottom: 15px">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">Visa <a aria-label="announced (opens in a new tab)" href="https://www.businesswire.com/news/home/20230905549860/en/Visa-Expands-Stablecoin-Settlement-Capabilities-to-Merchant-Acquirers" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">announced</a> that it has extended its stablecoin settlement mechanism to Solana, helping Visa settle USDC payments on its blockchain along with Ethereum using merchant acquirers like Nuvei and Worldpay.</p> 
<h3 id="visa-to-simplify-cross-border-stablecoin-payments">Visa to Simplify Cross-Border Stablecoin Payments</h3> 
<p>Visa has decided to boost <a href="https://tokenist.com/visa-exploring-stablecoin-settlements-report/" rel="dofollow" class="deco-link">stablecoin settlements</a> using the Solana blockchain. In a new press release, the firm announced that it has expanded its USDC payments services to Solana, intending to improve cross-border payment efficiency.</p> 
<p>The firm has also partnered with leading merchant acquirers like Nuvei and WorldPay to help merchants receive payments in USDC via the Solana and Ethereum blockchains. It has already conducted several live tests with pilots and issuers before announcing the official announcement to the masses. Per the statement, Visa has “already moved millions of USDC between its partners over the Solana and Ethereum blockchains to settle fiat-denominated payments authorized by VisaNet.”</p> 
<p>Speaking about Visa’s newest stablecoin endeavor, Cuy Sheffield, the head of crypto at Visa, shared how the firm is committed to serving its users by leveraging digital currency mechanisms to process cross-border payments quickly.</p> 
<blockquote class="wp-block-quote"> 
 <p>“By leveraging stablecoins like USDC and global blockchain networks like Solana and Ethereum, we’re helping to improve the speed of cross-border settlement and providing a modern option for our clients to easily send or receive funds from Visa’s treasury. Visa is committed to being at the forefront of digital currency and blockchain innovation and leveraging these new technologies to help improve the way we move money. </p> <cite>Sheffield later shared</cite>
</blockquote> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="visa-partners-with-fintech-firms-worldpay-and-nuvei-to-process-quick-stablecoin-settlements">Visa partners With Fintech Firms WorldPay and Nuvei to Process Quick stablecoin Settlements</h3> 
<p>Dubbed an expansive move, Solana has been selected by Visa preferably for its high-performance capabilities “that can send and receive stablecoins with higher speed and lower costs.”</p> 
<p>To settle USDC payments in real-time, Visa has entered a strategic partnership with merchant acquirer firms WorldPay and Nuvei. By leveraging these merchant acquirers, Visa intends to manage and send USDC payments to merchants globally in real-time.</p> 
<blockquote class="wp-block-quote"> 
 <p>“Using Visa’s own Circle account, Visa can now manage settlement payouts in USDC to Worldpay and Nuvei, who can then route these payments in USDC to their end merchants.</p> <cite>The statement further adds</cite>
</blockquote> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title">
   <strong>Finance is changing.</strong>
  </div> 
  <div class="cta-sub__subtitle">
   Learn how, with Five Minute Finance.
  </div> 
  <div class="cta-sub__excerpt">
   A weekly newsletter that covers the big trends in FinTech and Decentralized Finance.
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
   Awesome
  </div> 
  <div class="cta-sub__caption">
   You’ve subscribed.
  </div> 
  <div class="cta-sub__greeting">
   You’re well on your way to being in the know.
  </div> 
 </div> 
</div> 
<p><em><strong>What do you think of Visa’s new blockchain move? Let us know in the comments below</strong>!</em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/visa-picks-solana-to-extend-its-stablecoin-settlement-process/">Visa Extends Stablecoin Settlement System to Solana</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Visa Extends Stablecoin Settlement System to Solana

Table of Contents

Tokenist

Other articles published on Sep 5, 2023

Bitcoin Has Historically Declined 7-13% in September: Data

Crypto collapses generate hundreds of millions of dollars for lawyers

MakerDAO’s Forking Decision Sparks Ethereum Community Clash

Sam Bankman-Fried Tarik Dana Hampir US$1 Milyar Beberapa Bulan Sebelum FTX Bangkrut

80 Chinese crypto influencer accounts shut down in latest crackdown

Shibarium Network Activity Soars Despite SHIB's 20% Price Drop

Join our free newsletter for daily crypto updates!