{"id":17411,"date":"2023-02-08T14:57:50","date_gmt":"2023-02-08T14:57:50","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/visa-is-eyeing-large-value-usdc-settlements-on-ethereum\/"},"modified":"2023-02-08T14:57:50","modified_gmt":"2023-02-08T14:57:50","slug":"visa-is-eyeing-large-value-usdc-settlements-on-ethereum","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/visa-is-eyeing-large-value-usdc-settlements-on-ethereum\/","title":{"rendered":"Visa is eyeing large value USDC settlements on Ethereum"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1675865162747-9179010b-0ca4-43aa-be0d-9ed9acf853d9-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1675865162747-9179010b-0ca4-43aa-be0d-9ed9acf853d9-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1675865162747-9179010b-0ca4-43aa-be0d-9ed9acf853d9-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1675865162747-9179010b-0ca4-43aa-be0d-9ed9acf853d9-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Visa\u2019s head of crypto revealed the plans at a StarkWare event this week.<\/li>\n<li dir=\"ltr\">The payments giant has been trialing large-value USDC settlements on the Ethereum blockchain.<\/li>\n<li dir=\"ltr\">Swarm Markets co-founder Philipp Pieper says Visa\u2019s crypto strategy could be key to further DeFi\/TradFi integration.<\/li>\n<\/ul>\n<p dir=\"ltr\">Payments giant Visa is reportedly testing a payments system that could see it accept digital assets payments from its customers.<\/p>\n<p dir=\"ltr\">The <a href=\"https:\/\/coinjournal.net\/news\/\">cryptocurrency news<\/a> relates to an <a href=\"https:\/\/blockworks.co\/news\/visa-eyes-high-value-usdc-settlement-payments-on-ethereum\" rel=\"noopener noreferrer\" target=\"_blank\">announcement<\/a> Visa Head of Crypto Cuy Sheffield shared during the StarkWare Sessions 2023 event.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">. <a href=\"https:\/\/twitter.com\/cuysheffield?ref_src=twsrc%5Etfw\">@cuysheffield<\/a> and <a href=\"https:\/\/twitter.com\/Visa?ref_src=twsrc%5Etfw\">@visa<\/a> have fell into the rabbit hole of Account Abstraction! <\/p>\n<p>This is huge! <a href=\"https:\/\/t.co\/CFniLLBq5C\">pic.twitter.com\/CFniLLBq5C<\/a><\/p>\n<p>\u2014 Starknet-Ecosystem.com \u2728 (@StarkNetEco) <a href=\"https:\/\/twitter.com\/StarkNetEco\/status\/1622212729061646339?ref_src=twsrc%5Etfw\">February 5, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">According to Cuy Sheffield, Visa has recently trialed large value transfers where the network accepts tokenised digital dollar payments with settlements in traditional dollars. Specifically, Visa is looking to start with USD Coin (USDC) transactions on <a href=\"https:\/\/coinjournal.net\/ethereum\/\">Ethereum<\/a>. USDC is a major stablecoin issued by Circle and which Visa added support for in March 2021.<\/p>\n<p dir=\"ltr\">\u201c<em>We\u2019ve been testing how to actually accept settlement payments from issuers in USDC starting on Ethereum and paying out in USDC on Ethereum<\/em>,\u201d Visa\u2019s head of crypto strategy said during the StarkWare event.<\/p>\n<h2 dir=\"ltr\">Visa\u2019s crypto strategy huge for crypto, says Swarm Markets co-founder<\/h2>\n<p dir=\"ltr\">Visa\u2019s plans on crypto settlements come as the global focus on stablecoins increases from a regulatory perspective following recent events in the cryptocurrency ecosystem. They also follow increased interest in central bank digital currencies, with the <a href=\"https:\/\/coinjournal.net\/news\/uk-releases-consultation-paper-for-its-digital-pound-project\/\">UK\u2019s consultation paper<\/a> on its digital pound the latest move in the CBDCs race.<\/p>\n<p dir=\"ltr\">Some experts view these developments as what\u2019s likely to spark further innovation in crypto, rather than be the end of it.<\/p>\n<p dir=\"ltr\">Philipp Pieper, co-founder of blockchain platform <a href=\"http:\/\/swarm.com\/\">Swarm<\/a>, commented on Visa\u2019s reported foray into crypto payments settlement as a major development set to bolster innovation across the global financial infrastructure.<\/p>\n<p dir=\"ltr\">The company\u2019s move could also mark a key pivot in the adoption of blockchain technology and digital assets, significantly aiding decentralised finance (DeFi) and traditional finance (TradFi) integration, Pieper noted.<\/p>\n<p dir=\"ltr\">In a comment sent to CoinJournal, the Swarm Markets co-founder added:<\/p>\n<p dir=\"ltr\">\u201c<em>If Visa can begin to introduce seamless settlement between stablecoins and fiat then this overcomes a significant obstacle toward greater DeFi\/TradFi integration. With the advent of digital assets such as stablecoins revolutionizing the way users transact and settle payments, it makes sense for Visa to start working toward this future now<\/em>.\u201d<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/visa-reportedly-testing-usdc-settlements-on-ethereum\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Visa\u2019s head of crypto revealed the plans at a StarkWare event this week. The payments giant has been trialing large-value USDC settlements on the Ethereum blockchain. Swarm Markets co-founder Philipp Pieper says Visa\u2019s crypto strategy could be key to further DeFi\/TradFi integration. Payments [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":17412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17411"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=17411"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17411\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/17412"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=17411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=17411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=17411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}