It was inevitable after the announcement of the competition, Visa moves and also accepts cryptocurrency transactions.
Every week we can talk about some news that shows the progress that cryptocurrencies are having. If a few days ago we reported that it will be possible to buy Tesla vehicles with bitcoins, now with Visa it will also be possible to make cryptocurrency transactions, at least with some very specific ones.
This move is not too surprising after last month’s news when Mastercard announced that it would start storing and paying with them. The Financial Times exclusive reporting that Visa now accepts the USDC cryptocurrency has not caused much of a stir, although it is a very important move that will trigger others.
It should be noted that this move by Visa is not valid for any cryptocurrency or with Bitcoin, but initially, only USDC is accepted and in the United States, although it will be extended to other countries soon. It has opted for a moderate advance.
It is important to note that USDC is a stablecoin, so a cryptocurrency whose volatility is minimal is accepted, something that does not occur with Bitcoin and other alternatives that are viewed with great distrust by the sector. Being associated with the U.S. dollar also signals a direction on what options to value.
When it comes to accepting transactions with this stablecoin there is the assurance that it operates through Ethereum and with the collaboration of the Crypto.com wallet. Finally, with these bases behind the cryptocurrency, Visa customers will be able to pay and store it without having to pay fees.
According to Visa’s head of crypto, Cuy Sheffield, they have seen “a growing demand from consumers around the world to be able to access, hold and use digital currencies and we are looking to be able to build products that provide that access to consumers,” reports the Financial Times.
Surely, a similar move is better seen than accepting transfers with other cryptocurrencies such as Bitcoin, something too adventurous, but every small step brings us closer to a future where cryptocurrencies are an option used in any daily purchase.