Visa Extends Cross-Border Stablecoin Payments Through Solana

  • Visa partners with Solana to simplify cross-border transactions.
  • The company aims to promote accessibility and efficiency using the blockchain technology.
  • This move highlights the growing demand for blockchain technology in the financial landscape.

Global financial payment agent Visa has introduced stablecoin payments on the Solana blockchain network, further expanding its commitment to enhancing cross-border money transfers. The new partnership will offer enhanced settlement performance, complementing its existing Ethereum optimization. 

Visa’s Bold Step into Stablecoin Payments

On September 5th, Visa unveiled a strategic move to scale its financial settlement pilot in collaboration with Solana’s blockchain network. 

This expansion is expected to profoundly impact the global payment service structure, streamlining digital transactions for better efficiency and accessibility. According to Solana, the new pilot program demonstrates the transformative power of stablecoins within the traditional payment ecosystem.

According to the Head of Crypto at Visa, Cuy Shuffield, the payment giant is working with global acquirers Worldpay and Nuvei. Together, the firms will facilitate settlement payments through the Solana blockchain network, significantly reducing the complexities of blockchain technology transfers.

The crypto community has expressed enthusiasm for the development,  describing it as a major milestone in adopting cryptocurrency globally.

The move from Visa reiterates its commitment to developing modern, convenient options for native crypto issuers through innovative settlements. 

Learn about the recent Lido proposal on Solana:
Will Lido Stay on Solana? Dev Team Asks for Funding from Lido DAO

Discover the details of the recent South Korean partnership that is fostering global crypto adoption: 
South Korean Bank Forges New Partnership With BitGo To Expand Digital Assets Market

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