The payment giant Visa has allowed US banks to use the stablecoin USDC on the Solana blockchain for settlements. This was reported by Bloomberg. Among the first partners of the company are Cross River Bank and Lead Bank.$XRP
Global Head of Development at Visa Rubail Birwadker noted that this directly relates to the core business of the company — settlements in the Visa network. According to him, Visa can now expand these capabilities to the US market, as banks have been granted permission to use fully backed digital dollars and regulated settlement mechanisms.
This move expands access to the company's cryptocurrency products amid relaxed regulations on digital assets in the US. Visa has already integrated support for USDC in international transactions and is now extending the initiative to the domestic market, journalists noted.$SOL
Visa stated that support for USDC will allow banks to attract new clients, particularly startups working with digital assets. In the long term, stablecoins will become a critically important payment infrastructure, and this will be "an obvious feature that will increasingly be implemented," added Cosentino.$BTC
