Visa Direct begins using USDC to fund commercial payments
Visa Direct’s USDC payment-funding service has entered commercial use with Inyo Global.
The service allows eligible businesses to fund cross-border payments using USDC, which could help transfers go through when traditional bank funding channels are closed. Availability remains subject to eligibility requirements and geographic restrictions.
Why does this matter?
This is an example of stablecoins being used to settle payments, rather than only being traded on crypto platforms.
If services like this expand, they could increase the use of blockchain infrastructure in the financial sector. But this does not guarantee an increase in the price of any particular digital currency.
$USDC
#BinanceTurns8
Visa Direct’s USDC payment-funding service has entered commercial use with Inyo Global.
The service allows eligible businesses to fund cross-border payments using USDC, which could help transfers go through when traditional bank funding channels are closed. Availability remains subject to eligibility requirements and geographic restrictions.
Why does this matter?
This is an example of stablecoins being used to settle payments, rather than only being traded on crypto platforms.
If services like this expand, they could increase the use of blockchain infrastructure in the financial sector. But this does not guarantee an increase in the price of any particular digital currency.
$USDC
#BinanceTurns8