The payment giant Visa announced its plans to expand its stablecoins payment capabilities with Solana blockchain and collaborated with merchant acquirers Worldpay and Nuvei.
In recent tests, Visa successfully facilitated the transfer of significant amounts of digital dollars (USDC) between partners using Solana and Ethereum blockchains for payment settlements authorized through Visa’s network.
Cuy Sheffield, Head of Crypto at Visa said, “By leveraging stablecoins like USDC and global blockchain networks like Solana and Ethereum, we’re helping to improve the speed of cross-border settlement and providing a modern option for our clients to easily send or receive funds from Visa’s treasury.”
Worldpay and Nuvei, known for assisting businesses with payment processes, are partnering with Visa to offer businesses the choice of receiving payments in stablecoins like USDC. They will help speed up settlement times for their merchants.
This development underscores Visa’s adoption of Solana for these payment processes, making it one of the pioneering major payment companies to do so.
Also Read: Visa Breaks Ground with Card Payments for Ethereum Gas Fees
