Visa Inc. Now Accepting Crypto Payment
– Visa Inc. announced on Monday that it will start allowing the use of USD Coin to settle payment on its network
-This development is among the many signs of growing acceptance of cryptocurrencies
-The payment company launched a pilot program with crypto platform, Crypto.com
Payment company, Visa Inc. announced on Monday that it will begin accepting settlement transactions with cryptocurrency USD Coin (USDC).
The company has launched a pilot program in collaboration with crypto payment platform, Crypto.com
Previously, when customers want to make a payment on Crypto.com using a Visa card, The cryptocurrency held in the wallet was converted into fiat money.
With the latest development, the company will use the Ethereum blockchain to complete the transaction. This eliminates the need to convert to traditional money.
The USD Coin (USDC) is a cryptocurrency whose value is always pegged to the dollar.
Visa is not the first major financial institution to embrace cryptocurrency.
Other firms such as Mellon, BlackRock, and Mastercard have also backed digital currencies recently which has increased the confidence in crypto coins.
Read also: Wife Leaves Her Husband After He Refused To Sell Bitcoin At $60,000
Only last week, Tesla Inc announced that customers can now purchase its electric vehicles with Bitcoin.
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