Visa Testing Settlement System for Large $USDC Payments on Ethereum

Visa is testing how to actually accept settlement payments from issuers in $USDC starting on Ethereum and paying out in $USDC on Ethereum, according to the company's head of crypto division Cuy Sheffield at the StarkWare Sessions 2023. It aims to allow customers to convert digital assets to fiat currencies on its platform.

According to the executive, global settlement with digital assets and fiat currencies is one of the avenues that Visa is investing in.