In a significant move towards modernizing cross-border financial transactions, payments giant Visa Inc (NYSE: V) announced on Tuesday its plans to extend its stablecoin settlement capabilities to the Solana (CRYPTO: SOL) blockchain.
This development came in collaboration with major merchant acquirers, Worldpay and Nuvei.
Visa's recent endeavors have seen millions of Circle (CRYPTO: USDC) being transacted between its partners over both the Solana and Ethereum (CRYPTO: ETH) blockchain networks, streamlining fiat-denominated payments processed via VisaNet, the company stated.
Cuy Sheffield, head of crypto at Visa, emphasized the company's commitment to pioneering in the digital currency realm.
“By leveraging stablecoins like USDC and global blockchain networks like Solana and Ethereum, ...