At StarkWare Sessions 202Z conference in Tel Aviv, the head of Visa’s crypto division said that the payment system will allow customers to convert digital assets into fiat currencies. We tested the procedure of accepting settlement payments in USDC Stablecoins on Ethereum, and processed settlement payments for a large amount," said their representative. According to the head of the company’s crypto department, international settlements in digital assets and fiat currencies is an area in which Visa is investing heavily: This is one of the areas in which they want to develop “muscle memory”. Just as we can convert dollars into euros in cross-border transactions, we should be able to convert digital tokenized dollars into traditional currencies. Visa is exploring how it can incorporate blockchain technology into its network to speed up the movement of funds in the context of settlements through the Society for Worldwide Interbank Financial Telecommunication channels, i.e. SWIFT, created by European banks to ensure the secure and standardized exchange of transactions between its participants.
What payment systems do you think will also join a similar program?
- Master Card
- Pay Pal