Visa is investing in the global settlement of digital assets and fiat currencies, with the goal of allowing its clients to convert digital assets into fiat currencies on its platform.

The head of the company’s cryptocurrency division, Cuy Sheffield, noted that liquidation is one of the areas in which the company wants to build muscle memory.

Sheffield explained that Visa is experimenting with accepting stablecoin settlement payments and has been exploring how to incorporate blockchain technology into its existing network to move money faster.

However, settlements are currently carried out at SWIFT, a not-for-profit cooperative society that facilitates the secure and standardized communication of transactions between its members. Sheffield claimed that the limitation of this network has led Visa to experiment with accepting settlement payments with stablecoins.

At Visa’s annual shareholder meeting, former CEO Al Kelly shared the company’s plans for central bank digital currencies (CBDCs) and private stablecoins.

Sheffield also confirmed the company’s vision on blockchain technology and digital assets, stating that the company is considering how to participate in rebuilding known banking lanes into blockchain lanes, using stablecoins.

K. Tovar

Source: Cointelegraph

(Reference image source: file)

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La entrada Visa targets stablecoin liquidations apareció primero en Bitfinance.

Twitter is building a payments system that will be compatible with fiat currencies and may accept cryptocurrencies in the future, according to reports in the Financial Times.

The company has begun the process of applying for state regulatory licenses in the United States and expects to complete the process within a year. Elon Musk, CEO of Twitter, has instructed developers to build the payment system.

Unconfirmed rumors surfaced in October that Twitter was working on a prototype wallet that would allow cryptocurrency deposits and withdrawals. However, it seems that the payment system will go ahead with only fiat support.

At a Twitter Space event, Musk discussed allowing the connection of bank accounts and adding debit cards to make money transfers easier. Following the approval of the licenses in the US, Twitter plans to obtain international regulatory approvals.

K. Tovar

Source: FT

(Reference image source: Souvik Banerjee, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Twitter works on a payment system compatible with cryptocurrencies apareció primero en Bitfinance.