Visa has recently entered into a partnership with Circle, a team behind USDC, to give access to it. The whole Visa’s network will be able to have access to the International USDC payment through this partnership. Circle will be supporting Visa to integrate USDC payments to credit card issuers.
These payments will automatically convert into the national currency that the cardholders will be able to spend anywhere.
Through this partnership only, Visa is also planning to issue a credit card as well for its customers, in the future. This credit card will help them to send and receive USDC funds that will facilitate fast crypto transfers. Cuy Sheffield, Crypto head at Visa stated:
“This will be the first, corporate card that will allow businesses to be able to spend a balance of USDC. And so we think that this will significantly increase the utility that USDC can have for Circle’s business clients.”
Visa has been showing significant interest in cryptocurrency lately as earlier, it also linked with Coinbase for Coinbase Card. Along with this, it also powers Crypto.com’s card, available across the world. The Fast Track program of the firm is also centered on cryptocurrency as it includes several crypto wallets as well. Now all these wallets will be having access to USDC payments with Circle.
From the past few weeks, it has been seen that USDC is moving towards wider adoption. Back in the previous month, it has also pledged to fight the crisis going on in Venezuela. USDC is also having a plus point as it does not fluctuate like other cryptos, which give it great stability. Now this integration of Visa with Circle is also going to be highly beneficial for this stablecoin and will lead towards wider adoption.