certify
Home arrow Article arrow Article Detail

Now Visa permits payments to relax fiat transactions with Bitcoin

Profile Image

Vandana Mrigwani Follow

INDIA

Apr, 06 2021

Apr, 06 2021

likes | comments 0

Article Image

Visa, a major credit card corporation, is trying a programme that will allow its partners to relax fiat transactions using the Ethereum (ETH) blockchain. Visa has established that it has accepted the first clearance payment in USDC, a cryptocurrency that is 1:1 attached to the US dollar, from its global crypto wallet partner Crypto.com through the Ethereum blockchain. 

 

Visa's standard clearance mechanism demands sending fiat currency over and done with a wire transfer, which "can add cost and difficulty for businesses built on digital currencies," rendering to Visa. 

 

The present settlement procedure allows Visa's business partners to relax transactions in fiat currency that the company decides, which means that a portion of a partner's crypto treasury assets will have to be transformed at an expense. 

 

Visa's partners will soon be able to decide their commitments with the company straight in USDC, thanks to the update. CoinbaseBlockFi, Crypto.com, and Bitpanda are amongst the 35 digital currency networks with which the credit card hulk has already collaborated. These platforms have an entire user base of more than 50 million. 

 

Visa's decision monitors the adoption of numerous digital coins by key financial institutions such as BlackRock Inc, BNY Mellon, and Mastercard Inc, encouraging expectations that cryptocurrencies will become a daily part of investment portfolios. 

 

Cuy Sheffield, the head of Crypto at Visa mentioned that Digital currencies have the prospective to extend the worth of digital payments to a greater number of people and places and we're keen to work with companies carrying this vision to life. They have done our partnership with Crypto.com, one of the major Visa card programs associated with a crypto exchange accessible today, we are making it faster and easier for people to expend digital currency worldwide. 


Source -

http://www.goodreturns.in/news/visa-plans-to-allow-payments-to-settle-fiat-transactions-with-bitcoin-1208523.html?ref_medium=Desktop&ref_source=GR-EN&ref_campaign=Similar-Topic-Slider


likes | comments 0

Profile Image

Vandana Mrigwani

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
Animoca Ventures leads $1M seed funding round for Narwhal Finance

With participation from Hailstone Ventures and various angel investors, Narwhal Finance which is a decentralized cross-market perpetual trading platform built on BNB Chain and Arbitrum has announced;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.