Visa tests USDC settlement payments on Solana blockchain
Visa recently announced its initiative to experiment with USDC settlement payments via the Solana blockchain. In a press release, Visa claimed it would allow USDC settlement payments through the Solana blockchain on Sept. 5. The company will facilitate these USDC-denominated transactions to merchant banks Worldpay and Nuvei, who can then process payments to their merchants in the same digital currency. Visa’s role in the financial ecosystem is monumental, with daily operations involving the clearing, settlement , and transferring of billions of dollars. Cuy Sheffield, Head of Crypto at Visa, explained that the company’s global network navigates about 25 currencies and collaborates with nearly 15,000 financial institutions. A significant operational undertaking for Visa is ensuring that transactions occur seamlessly, particularly in the preferred and correct currency. 1/Breaking: Visa Expands Stablecoin Settlement Pilot to Solana@Visa is scaling their USDC settlement pi...