Visa is the first payment network to settle transaction in USD Coin
- Visa has partnered with Crypto.com and Anchorage Digital Bank to settle a transaction in USDC.
- With this move, the payment network erodes the divide between fiat and mainstream cryptocurrency use.
Visa announced today that it had used USD Coin to settle a transaction over Ethereum. USD Coin (USDC) is a stablecoin backed by the US Dollar.
What’s happening: Visa is piloting the capability with Crypto.com, a large crypto platform and Visa partner. Visa is expanding its network of networks into cryptocurrency as it looks for ways to further bridge fiat and digital currencies.
This content is available exclusively to Tearsheet Outlier members.
Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account