{"id":84032,"date":"2023-09-05T17:42:49","date_gmt":"2023-09-05T14:42:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84032"},"modified":"2025-09-12T14:56:10","modified_gmt":"2025-09-12T11:56:10","slug":"visa-to-test-usdc-settlement-capabilities-on-solana","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/visa-to-test-usdc-settlement-capabilities-on-solana\/","title":{"rendered":"Visa to test USDC settlement capabilities on Solana"},"content":{"rendered":"

Payment giant Visa launched<\/a> a pilot project, under which merchants will be able to use the USDC<\/a> stablecoin on the Solana network.<\/p>\n

In 2021, the company began testing<\/a> USDC on Ethereum in partnership with Crypto.com.<\/p>\n

Solana was chosen for faster and cheaper transactions relative to the second-largest cryptocurrency by market cap.<\/p>\n

Partners in the project are WorldPay and Nuvei. They will act as recipients of USDC from Visa\u2019s account with the stablecoin issuer Circle for interacting with merchants.<\/p>\n

\n

\u00abThe pilot demonstrates how bringing together USDC with Visa’s innovations is opening the future of payments, commerce, and financial apps,<\/em> \u00bb \u2014 said Circle CEO Jeremy Allaire.<\/p>\n<\/blockquote>\n

Visa’s head of cryptocurrency Kai Sheffield told Fortune <\/a> in an interview that the processing times for transfers to and from the treasury would remain unchanged.<\/p>\n

\n

\u00abAt this early stage, we are simply enabling the ability to send or receive USDC instead of a bank transfer, but transfers are not necessarily faster. Over time, I think there is potential to change that,\u00bb<\/em> he explained.<\/p>\n<\/blockquote>\n

The executive said the company has recognise the role of stablecoins.<\/p>\n

\n

\u00abWe have reached the point where it has become clear that <\/em>stablecoins<\/em><\/a> can play a definite role in payments, solving real-world problems,\u00bb<\/em> he explained.<\/p>\n<\/blockquote>\n

A company spokesperson confirmed the termination of the collaboration with Binance<\/a> over the issuance of crypto cards amid regulatory problems facing the exchange<\/a>. Sheffield did not comment on whether he was prepared to fully sever the partnership with the platform.<\/p>\n

In April, Visa announced the recruitment of developers<\/a> for its cryptocurrency division.<\/p>\n

Earlier, CEO Alfred Kelly stated<\/a> that blockchain-based solutions would be integrated into the company’s services to support next-generation payments.<\/p>\n","protected":false},"excerpt":{"rendered":"

The payment giant Visa has launched a pilot project under which merchants will be able to use the USDC stablecoin on the Solana network.<\/p>\n","protected":false},"author":1,"featured_media":84033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1159,807,910,157],"class_list":["post-84032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-solana-sol","tag-stablecoins","tag-usdc","tag-visa"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/84032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=84032"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/84032\/revisions"}],"predecessor-version":[{"id":84034,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/84032\/revisions\/84034"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/84033"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=84032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=84032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=84032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}