Visa Taps Solana and USDC Stablecoin to Boost Cross-Border Payments

Visa has expanded its stablecoin settlement capabilities with Circle's USDC stablecoin to the Solana blockchain, aiming to enhance the speed of cross-border payment transactions and become one of the first major financial institutions to use the Solana network at scale for settlements.

coindesk.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.

8/25/2023

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

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.

9/14/2023

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.

9/17/2023

Bitcoin Hits Milestone, Surpasses Visa in Annual Transaction Volume Despite Challenges

Bitcoin's annual transaction volume has surpassed that of Visa, marking a significant milestone for the decentralized cryptocurrency despite some nuances in comparing the two.

Topics

Posted 9/5/2023, 2:55:00 PM

Visa Taps Solana and USDC Stablecoin to Boost Cross-Border Payments

coindesk.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

8/25/2023

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

9/5/2023

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

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.

9/17/2023

Bitcoin Hits Milestone, Surpasses Visa in Annual Transaction Volume Despite Challenges

Bitcoin's annual transaction volume has surpassed that of Visa, marking a significant milestone for the decentralized cryptocurrency despite some nuances in comparing the two.