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.

fortune.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.

9/5/2023

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.

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.

9/17/2023

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.