Ethereum Variant USDC Stablecoin Will Be Accepted by VISA

Initially, the USD coin which is a digital stablecoin pegged to the United States dollar started as a token on top of the Ethereum blockchain and two other blockchains which include Algorand and Stellar blockchain. In a recent statement, the payment card network, Visa announced that the transaction will now be settled using the USD Coin (USDC). While Visa already supports 160 currencies across the globe, its partnership with Anchorage means Visa will be adding support for its first digital currency.

Visa’s plan to settle transactions using the USD coin simply means that it can send USDC directly to Visa. Not only that, it can send USDC to Visa’s Ethereum wallet address at Anchorage to settle the transaction. The merchant then gets paid by Visa in their own currency.

For more information, read the original story in Techcrunch

Ethereum Variant USDC Stablecoin Will Be Accepted by VISA

Top Stories

SpaceX shares fall 20% from peak following $60 billion cursor acquisition

Snap unveils first consumer AR glasses priced at more than $2,000

Key U.S. data center law faces expiration with no replacement in sight

Starlink introduces $10 monthly hardware rental fee

Hackers used Meta’s AI support bot to hijack 20,000 Instagram accounts

Meta faces backlash after facial recognition code found in smart glasses app

Related Articles

Americans are using AI chatbots more than ever, but most remain skeptical

YouTube’s crackdown on AI content catches legitimate creators in the crossfire

SpaceX shares fall 20% from peak following $60 billion cursor acquisition

Bezos reportedly described Washington Post as his worst investment, new book says

TND News Desk

TND News Desk

Jim Love