Anchorage, Bitcoin, BTC, CBDC, Chartered Bank, crypto assets, Crypto.com, Digital Asset Bank, Jack Forestell, Regulated Token, Settlement, Stablecoin, usd coin, USDC, VISA, Visa USDC

On Monday, the American multinational financial services corporation Visa announced that digital currency payments have arrived on Visa’s settlement platform. The payment giant revealed that the company will leverage USD coin (USDC), the regulated token built on top of the Ethereum network.

A lot Has Changed Since Dee Hock founded Visa

Visa has announced cryptocurrency integration with its settlement platform on March 29. The company said a lot has changed since Dee Hock founded Visa, and nowadays Visa must “accommodate new form factors for money.â€

Visa is piloting the new USD coin (USDC) capabilities with the cryptocurrency exchange Crypto.com and then will offer USDC settlement capabilities to other customers in the future.

“The announcement today marks a major milestone in our ability to address the needs of fintechs managing their business in a stablecoin or cryptocurrency, and it’s really an extension of what we do every day, securely facilitating payments in all different currencies all across the world,†Visa said during Monday’s announcement.

Working With the Digital Asset Bank Anchorage and CBDCs

Visa also emphasized that the ability to leverage USDC will help native crypto companies and Visa can “evaluate fundamentally new business models.†The payment company is also working with the company Anchorage, a federally chartered digital asset bank. Visa revealed that it upgraded its treasury and its integration with Anchorage will help the payment network support a central bank digital currency (CBDC) if one emerges in the next few years.

“Crypto-native fintechs want partners who understand their business and the complexities of digital currency form factors,†Jack Forestell, executive vice president and chief product officer at Visa noted. “The announcement today marks a major milestone in our ability to address the needs of fintechs managing their business in a stablecoin or cryptocurrency, and it’s really an extension of what we do every day, securely facilitating payments in all different currencies all across the world.â€

Since the Visa announcement, cryptocurrency markets saw a lift in value on Monday morning. Bitcoin (BTC) jumped close to 4% during the morning trading sessions and the entire crypto market cap increased by 3%. At the time of publication, the crypto economy is valued at $1.67 trillion.

What do you think about Visa adding the stablecoin USDC to the company’s settlement platform? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

RELATED NEWS

Morgan Stanley Says Central Bank Digital Currencies Not a Threat to Cryptocurrencies

Major investment bank Morgan Stanley believes that central bank digital currencies are not a threat to the existence of cryptocurrencies. The bank believes that both types of digital currencies can coexist because they serve different purposes and have different appeals. Cryptocurrencies and CBDCs Can Coexist Morgan Stanley’s analysts, including chief economist Chetan Ahya, discussed the […]

Xem chi tiết: Morgan Stanley Says Central Bank Digital Currencies Not a Threat to Cryptocurrencies

Federal Reserve Bank President Says Bitcoin Is Clearly a Store of Value

The Federal Reserve Bank of Dallas president says bitcoin is clearly “a store of value.†Emphasizing the differences between cryptocurrencies, like bitcoin, and central bank digital currencies, he said the latter “won’t necessarily be a store of value.†Fed Bank Chief Calls Bitcoin a Store of Value The president of the Federal Reserve Bank of […]

Xem chi tiết: Federal Reserve Bank President Says Bitcoin Is Clearly a Store of Value

China Calls Bitcoin and Stablecoins ‘Investment Alternatives’ for the First Time Since Crypto Crackdown

After the well-known crypto crackdown launched by the Chinese government four years ago, it seems there is now a change in the tone from the country’s central bank. At least that’s what has been suggested recently by the deputy governor of the People’s Bank of China (PBoC). Central Bank Clarifies Its Regulatory Framework on Cryptos […]

Xem chi tiết: China Calls Bitcoin and Stablecoins ‘Investment Alternatives’ for the First Time Since Crypto Crackdown

Bank of England and HM Treasury Launch a Central Bank Digital Currency Taskforce

Her Majesty’s Treasury and the Bank of England have revealed the establishment of a central bank digital currency (CBDC) taskforce. According to the announcement, the group’s purpose aims to explore a potential UK CBDC. UK Entities Invoke a CBDC Taskforce to Explore a Central Bank-Issued Digital Currency Central bank digital currencies (CBDCs) have been popping […]

Xem chi tiết: Bank of England and HM Treasury Launch a Central Bank Digital Currency Taskforce

Whales Move Over $4 Billion in BTC During Sunday’s Market Carnage, 150 Bitcoin from 2010 Spent

After bitcoin and a myriad of other crypto-assets tumbled in value on Sunday a number of significant whale movements took place. During the morning trading sessions on Sunday (EST), an old school miner transferred three decade-old coinbase rewards with 150 bitcoin worth more than $8.5 million. Later on in the evening, just before the transition […]

Xem chi tiết: Whales Move Over $4 Billion in BTC During Sunday’s Market Carnage, 150 Bitcoin from 2010 Spent

OFAC Escalates Russian Sanctions Listing Bitcoin Addresses, US Treasury Crypto Crackdown Rumors Spread

Rumors concerning the U.S. Treasury cracking down on several financial institutions over money laundering has been spreading like wildfire on social media and forums. There’s been no formal announcement from the U.S. entity and at this stage, the news is widely considered FUD. However, some are assuming the hearsay stems from the recent Russian sanctions […]

Xem chi tiết: OFAC Escalates Russian Sanctions Listing Bitcoin Addresses, US Treasury Crypto Crackdown Rumors Spread

P2P Bitcoin Traders in Nigeria Think Outside the Box in the Wake of CBN Restrictions

After the Central Bank of Nigeria issued a directive targeting the country’s cryptocurrency industry, bitcoin and altcoin trade volumes on centralized exchanges immediately plunged. Nevertheless, the new regulations seem to have succeeded in boosting crypto trade volumes on informal markets or on peer-to-peer trading platforms. Nigerian Crypto Traders Get Creative Still, the increasing trades on […]

Xem chi tiết: P2P Bitcoin Traders in Nigeria Think Outside the Box in the Wake of CBN Restrictions

Bitcoin Hashrate Drops Over 45%, Xinjiang Grid Blackouts Blamed, BTC Price Slides 10%

Since April 15, the Bitcoin network hashrate has dropped more than 49% after touching an all-time high at 218 exahash per second. Regional reports noted that in China the Xinjiang grid is having blackouts and “safety inspections.†Reports Claim Blackouts in Xinjiang, China Have Pushed Bitcoin’s Hashrate Down 49% At the time of writing, the […]

Xem chi tiết: Bitcoin Hashrate Drops Over 45%, Xinjiang Grid Blackouts Blamed, BTC Price Slides 10%

Kenyan Fintech Startup to Use Stablecoins to Transfer Universal Basic Income Payments to African Refugees

‘Ossification Is Stupid:’ Bitcoin Development Controversy Strikes ‘Speedy Trial’ Taproot Activation

Miami-Dade Officials Hope to Launch a Crypto Task Force, Residents Could Pay Taxes in Bitcoin Soon

Edward Snowden Plans to Auction an NFT, Proceeds Will Go to Freedom of the Press Foundation

‘Weird Coins Like DOGE and XRP Spike’- Galaxy Digital’s Mike Novogratz Warns of a Crypto Market ‘Washout’ 

Dogecoin Markets Soar as Token Nears a Half Dollar, DOGE Price Climbs 18,299% in 12 Months

Crypto Markets Lose Hot Air, DOGE and BCH Skyrocket, 46% Chance ETH Hits $2,600 by May

Co-Founder of South Africa’s Crypto Index Fund Reveals the Plan to Launch Country’s First Bitcoin ETF