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Visa Will Integrate Settlements in Stablecoins

ByLouis Adams

Feb 7, 2023 #Stablecoin
Reading time: < 1 minute

Payments company Visa wants to build the “muscle memory” for settlements that will allow converting digital assets into fiat currencies on its platform.

The head of Visa’s cryptocurrency division, Cuy Sheffield, has confirmed that the company was testing the possibility of conducting settlement transactions in USD Coin on Ethereum. He has noted that it was about payments with a large value.

He has explained:

“This is one area where we want to build muscle memory. Just as we can convert dollars and euros in a cross-border transaction, we need to be able to exchange between digital tokenized currencies and traditional ones.”