New Move from Visa Working on Ethereum Payments!

One of the world’s largest payment companies VISA, cryptocurrency continues its moves towards the sector.

In this context, finally stablecoin VISA, which started its tests, stated that they continue their studies.

Confirming stablecoin developments and speaking to Cointelegraph Cuy Sheffield, head of VISA’s crypto divisionHe said that VISA has built a muscle memory to allow customers to convert their crypto holdings into fiat currencies on the platform.

Noting that they are already working on Ethereum (ETH) integration to facilitate automatic payments, Sheffield said:

“Starting with Ethereum, we are testing how to actually accept swap payments from issuers in USDC, as well as paying in Ethereum and USDC.

These are high-value settlement payments.

This is one of the areas where we want to build muscle memory. Just as we can convert dollars to euros in a cross-border transaction, we should be able to do this conversion between tokenized dollars like stablecoins and traditional dollars.”

Finally, underlining that VISA is committed to incorporating blockchain technology into its existing network, Sheffield said that all payments are still made by bankers and a non-profit community created by bankers. SWIFT stated in the system.

“We’re built all over Swift, so we can’t move money as often as we would like. Because these networks have some limitations.

So we are testing how to actually accept payments with stablecoins.”

If this move of VISA comes true, we will use the payment network for global payments. stablecoin Mass adoption of stablecoins and other digital assets could also increase.