Saturday, January 23, 2021
Home Crypto News Market Visa Partners With Circle Owned Stable Coin USDC For Corporate Credit Cards

Visa Partners With Circle Owned Stable Coin USDC For Corporate Credit Cards

- Advertisement -

Visa is partnering with Circle, the company behind the USDC stable coin. The announcement is another step by the payment giant into the crypto world and is good news for overall Crypto adoption.

Stablecoins are cryptocurrencies whose value is linked to fiat currencies. These can be all kinds of currencies, but by far, the largest stablecoins are related to the US dollar. Stablecoins make it fast and straightforward to buy cryptocurrency, which makes them extra interesting for traders. Stable Coins are also beneficial for international transactions.

USDC is the second-largest stable coin in the market with a market cap of nearly $ 3.1 billion. Circle’s stable coin is based on the Ethereum (ETH) blockchain. Tether’s USDT is by far the largest with a $ 19.3 billion market cap. The collaboration with Visa could provide a nice boost for USDC.

The plan is to issue a corporate credit card that will allow companies to use USDC tokens. Visa’s head of crypto, Cuy Sheffield, told Forbes, “This will be the first corporate card that allows companies to spend USDC balance.”

In the long term, this cooperation will ensure easy international payments with USDC stable coin. This partnership will extend the USDC approach to 60 million companies’ payment networks already using VISA.

The Circle is part of Visa’s Fast Track program, which aims to prepare crypto companies to join Visa’s network. For Visa, entering the crypto world makes sense, Sheffield said:

Visa is aiming to expand its network by cooperating with stable coin networks like USDC. Such cooperation values so much for cryptocurrencies. Crypto will get more exposure with the aid of such financial giants, as a result, cryptocurrencies will be more adopted worldwide.


- Advertisement -
Mark Brennan
Mark Brennan
Mark is 27, holds a Master in Business Administration degree and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Indian Firm Tanla Partners With Microsoft To Launch Blockchain Enabled Communications Platform-As-A-Service, Wisely

Microsoft Corporation and the Indian company Tanla have launched a blockchain based communication platform for confidential and secure messaging. ...

Investors Are Excited As Grayscale Is Setting Filecoin, Chainlink, Mana, Tezos And Livepeer Trusts

Asset management company Grayscale Investments has filed documents for the creation of a number of new cryptocurrency trust. Currently, Grayscale is considered one of...

TRASTRA Review-Cryptocurrency Card For The Mass Market

Despite the rapid growth of various cryptocurrency projects in 2020, the issue of paying with crypto in daily life remains a challenge. Unfortunately, very few...

Fund Managers Survey By Bank Of America Shows Capital Inflows To Bitcoin Are Higher Than Tech Companies

A fund managers survey conducted by Bank of America showed that Bitcoin now receives more capital inflows compared to other investment assets.

The Bank Of France Has Tested A Central Bank Digital Currency For Interbank Payments

The Bank of France announced the successful completion of testing a central bank digital currency (CBDC) for interbank settlements using the Iznes platform based...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.