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VISA allows using USDT encrypted currency

VISA allows using USDT encrypted currency

VISA said Monday: It allows the use of USDC encrypted currency to settle transactions through its payment network, which is more significant to the increasing acceptance of digital currencies from the prevailing financial industry.

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VISA told Reuters that it launched the experimental program with Crypto.com's payment and encryption platform and plans to provide options for more partners later this year.

The Penguin coin, the most famous encrypted currency, to its highest level in one week, rose by 4.5 percent to $ 58,300 and heading to a record high above $ 61,000 earlier this month.

VISA later confirmed in a statement, and USDC represents a stable encrypted currency associated with US dollars.

The VISA step comes as finance companies, including BNY Mellon, Blackrock, and Mastercard, are steps to increase the use of encrypted currencies for investment and payment purposes.

The President of Tesla, Elon Musk, is one of the main supporters of the coaches, last week: Customers can buy Tesla electric cars using Penguin, hoping to encourage more daily use of the digital currency.

Buy Sheffield, Head of Encryption in VISA: We see an increasing demand from consumers around the world to be able to reach digital currencies and be used and see a request from our customers to be able to build products that provide consumers.

If the client chooses the use of Visa Crypto.com to pay for coffee, you must convert the digital currency in the encrypted currency portfolio to traditional funds.

The currency portfolio encrypted by depositing the traditional paper currency in a bank account, to be connected via VISA at the end of the day to settle any transactions, adding the cost and complexity of companies.

The latest step of VISA, which uses the Poke Chen etherium, canceled the need to convert the digital currency into traditional money for transaction settlement.

VISA said: It has entered into a partnership with Digital Asset Bank Anchorage and completed the first treatment this month, as Crypto.com sent USDC currency to the VISA etherium address in Anchorage.