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Visa embraces USD CoinINTL

Visa embraces USD Coin

Another win for crypto-fans after Visa (V) announced it will embrace the digital currency USD Coin. The payments giant will allow the use of USD Coin to settle transactions on its network, a pilot program launched with platform Crypto.com. 

Via this partnership, the step that converts digital money held in a Crypto.com Visa card into traditional money, when making transactions, will be skipped. FYI, fewer currency conversions mean fewer expenses!

PS, USD Coin (USDC) is a US dollar-backed stablecoin — designed to reduce the volatility that is typically associated with cryptocurrencies.

why it matters
Visa is just the latest in a string of major financial players pushing for mainstream acceptance of cryptocurrencies. Many on Wall Street have been making crypto-related services more widely available to customers, who are increasingly keen on using digital currencies to make payments and need platforms that enable them to do so safely.