Payment giant Visa announced that it's expanding its $USDC settlement capabilities to the Solana blockchain and is working with merchant acquirers Worldpay and Nuvei to help merchants receive crypto payments via pilot programs.
According to information provided by Visa, through live pilots with issuers and acquirers, the company has already moved millions of $USDC between its partners over the Solana and Ethereum blockchain networks to settle fiat-denominated payments authorized over VisaNet.
Visa began testing how $USDC could be used inside its treasury operations in 2021, which led to a pilot with Crypto.com. Now, Crypto.com can send $USDC cross-border over the Ethereum blockchain directly to a Visa treasury-managed Circle account.
Visa said that adding support for Solana is to expand the $USDC settlement capabilities to additional clients to allow them to send and receive stablecoins with higher speed and lower costs.
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