Visa on Wednesday is linking its payments network of 60 million merchants to the U.S. dollar coin (USDC) digital currency developed by Circle Internet Financial on the Ethereum blockchain, according to Forbes.
- While Visa itself won’t custody any USDC, Circle will be working with Visa to help select Visa credit card issuers start integrating the USDC software into their platforms and send and receive USDC payments.
- Eventually, Visa will support the issuance of a credit card that lets businesses send and receive USDC payments directly from any business using the card.
- Circle spokesperson Josh Hawkins confirmed the move via email, saying the companies were targeting a 2021 launch.
- The companies will issue a corporate card that would let users spend USDC at vendors who accept Visa’s cards.
This story is developing and will be updated when more information is available.
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