Visa Inc. is broadening its stablecoin programme from initial pilots in the United States and Asia-Pacific to Central and Eastern Europe, the Middle East and Africa, underscoring the card network’s view that digital tokens will play a growing role in global money movement.
Visa Inc. is broadening its stablecoin programme from initial pilots in the United States and Asia-Pacific to Central and Eastern Europe, the Middle East and Africa, underscoring the card network’s view that digital tokens will play a growing role in global money movement.
As part of the rollout, Visa has entered a strategic partnership with Yellow Card, a pan-African cryptocurrency exchange operating in more than 20 countries. The companies said they will test stablecoin-denominated cross-border payments, liquidity provision and corporate treasury services aimed at lowering transaction costs and speeding settlement times for businesses and consumers.
Visa, which handled about US$16 trillion in payment volume over the past year, said “every institution” should develop a crypto strategy, signalling that the world’s largest card network intends to integrate blockchain-based rails more deeply into its core services.
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