03 December 2020 14:15, UTC

Anna Martynova

Visa has announced a partnership with Circle Internet Financial, one of the firms behind the Ethereum-based US Dollar Coin (USDC) stablecoin. The partnership will add USDC payments to Visa credit cards. Circle will work with select Visa credit card issuers to integrate USDC software into their platforms for sending and receiving USDC payments.

Visa-enabled companies will be able to send payments in USDC internationally to other Visa-enabled companies. The funds will be converted to local currency and can be spent anywhere Visa is accepted.

The partnership also has implications for crypto wallet providers, with 25 of which Visa is already working under the Fast Track program. Fast Track members can now try out their own USDC integration initiatives.

Image: Mainmine

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