Visa has announced that it is now allowing its partners to send or receive USDC settlement payments via the Solana blockchain. This expansion of its stablecoin settlement capabilities enables Visa to send USDC-denominated payouts to merchant banks Worldpay and Nuvei, who can then route these payments to their end merchants. Visa handles the clearing, settlement, and movement of billions of dollars a day across various currencies and financial institutions. The use of Solana blockchain streamlines the process for crypto native issuers and reduces the complexity of managing multiple bank accounts and international wire transfers. Overall, this move by Visa represents a positive development in the adoption of cryptocurrency in mainstream financial services.
AI Sentiment: Positive