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Visa’s Head of Crypto Reveals Ambitious Plans: Exploring CBDCs, Stablecoins, and Blockchain Networks

Ambitious, Blockchain, CBDCs, Crypto, Exploring, Networks, Plans, Reveals, Stablecoins, Visas

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The Future of Visa: Multiple Blockchain Technologies Under Consideration

Visa Expands Stablecoin Settlement Capabilities

  • Visa has expanded its stablecoin settlement capabilities to the Solana (SOL) blockchain.
  • The company has launched a new cross-border money system using Circle’s USDC.

Crypto’s “Broadband Moment”

The head of crypto at Visa, Cuy Sheffield, compares the current state of crypto to the early days of the internet.

He states that just like the internet, blockchains have faced skepticism and criticism, but they have the potential to advance as a technology.

Sheffield mentions that Visa has been at the forefront of payments technology for over six decades and sees significant potential for blockchain networks.

Visa’s Vision for the Future

Visa envisions a future where its networks include various blockchain technologies, stablecoins, and government-run central bank digital currencies (CBDCs).

The company expects traditional fiat and legacy settlement rails to co-exist with tokenized fiat running over global 24/7 real-time blockchain networks.

Visa sees its role as a bridge to meet clients’ needs regardless of preferred currency, settlement network, or form factor.

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