Visa taps into Solana to widen USDC payment capability

Global payments firm Visa has expanded its stablecoin settlement capability to include USD Coin (USDC) tokens issued on the Solana blockchain, allowing for faster and more efficient cross-border settlements.

cointelegraph.com

Relevant topic timeline:

8/23/2023

Solana Pay integrates plug-in with Shopify for USDC payments

Solana Pay, a decentralized payment protocol built on the Solana blockchain, has integrated with Shopify, allowing businesses on the platform to use it for payments, initially with USDC as the payment option and potential future inclusion of other cryptocurrencies like SOL and BONK; the integration offers fee-free transactions and the ability to set up loyalty programs with ease.

8/23/2023

USDC to be available on 15 blockchains after adding 6—including Base, Optimism, and Polygon PoS—over next 2 months

Summary: USD Coin (USDC) will be supported on six additional blockchains, including Cosmos, NEAR, Optimism, Polkadot, and Polygon PoS, as Circle aims to boost adoption for the stablecoin and differentiate it from its competitors.

8/23/2023

Digital Dollar Project and Western Union pilot CBDC for cross-border remittances

The Digital Dollar Project collaborated with Western Union on a pilot project exploring the use of central bank digital currencies (CBDCs) for cross-border remittances, revealing several benefits such as reduced counterparty risk and increased accessibility for the unbanked.

8/25/2023

Crypto Biz: Coinbase-Circle re-alignment, Binance fiat hurdles, and USDC at Shopify

Summary: Coinbase and Circle have dissolved the Centre Consortium due to regulatory clarity issues surrounding stablecoins, with Coinbase taking an equity stake in Circle and Circle assuming enhanced responsibilities for the USD Coin (USDC) stablecoin; Binance.US partners with MoonPay to use Tether (USDT) as its new "base asset" for transactions, while Binance faces challenges with fiat withdrawals in Europe; Shopify now accepts USDC payments on its platform, and Solana Pay plans to add additional altcoins; China launches a blockchain-powered data exchange with over 300 participating enterprises.

9/5/2023

Visa to send stablecoin USDC over Solana to help pay merchants in crypto

Visa has announced a pilot program to send USDC, the second-largest stablecoin, to select merchants using the Solana blockchain, allowing for faster transaction processing than Ethereum, as the payments giant continues to explore the potential of stablecoins in the payments industry.

9/5/2023

Solana jumps on Visa stablecoin announcement as bitcoin and other cryptocurrencies remain flat

Visa's announcement of expanding its stablecoin capabilities to the Solana blockchain caused a 5% increase in the value of Solana's sol token, which aims to rival Ethereum due to its speed and cost effectiveness.

9/12/2023

BIS Study Finds CBDCs Can Be Secure and Private with Proper Safeguards

The Bank for International Settlements (BIS) has successfully used novel intermediaries to reduce liquidity risk and enhance security for central bank digital currencies (CBDCs) in its Project Sela, which feeds into CBDC projects for the Israeli shekel and Hong Kong dollar. The project has demonstrated the feasibility of implementing secure and private CBDC systems on a central bank's ledger, protecting against hacks and ensuring privacy for users.

9/14/2023

Circle Expands to Asia With Singapore Hub to Bring Stablecoins and Web3 to Region's Payments

Circle, the issuer of the USDC stablecoin, is focusing on Asia as it sees stablecoins as a way to improve cross-border payments for businesses in the region.

Topics

Posted 9/5/2023, 2:18:55 PM

Visa taps into Solana to widen USDC payment capability

cointelegraph.com

Relevant topic timeline:

8/23/2023

Solana Pay integrates plug-in with Shopify for USDC payments

8/23/2023

USDC to be available on 15 blockchains after adding 6—including Base, Optimism, and Polygon PoS—over next 2 months

8/23/2023

Digital Dollar Project and Western Union pilot CBDC for cross-border remittances

8/25/2023

Crypto Biz: Coinbase-Circle re-alignment, Binance fiat hurdles, and USDC at Shopify

9/5/2023

Visa to send stablecoin USDC over Solana to help pay merchants in crypto

9/5/2023

Solana jumps on Visa stablecoin announcement as bitcoin and other cryptocurrencies remain flat

9/12/2023

BIS Study Finds CBDCs Can Be Secure and Private with Proper Safeguards

9/14/2023

Circle Expands to Asia With Singapore Hub to Bring Stablecoins and Web3 to Region's Payments

Circle, the issuer of the USDC stablecoin, is focusing on Asia as it sees stablecoins as a way to improve cross-border payments for businesses in the region.