Visa recently expanded its stablecoin settlement network by partnering with Anchorage to officially integrate USDPT, the stablecoin issued by Western Union, into the VisaNet settlement system.
My personal view is that traditional payment institutions are moving much faster than many people in the industry expected to stake out territory in compliant cross-border payments. Western Union, a traditional remittance giant, is officially moving on-chain to directly address the pain points of wire transfers, which can take days and carry hefty fees, by using stablecoin settlement to reduce costs and boost efficiency. Choosing a compliant custodian like Anchorage for the underlying infrastructure also shows that VisaNet is being transformed from a traditional, single-card-network system into an underlying protocol capable of supporting multi-currency clearing and settlement.
Now that traditional giants are bringing stablecoin settlement to everyday remittance channels, how much room do you think will be left for old-fashioned cross-border bank wires?
#稳定币 #跨境支付
My personal view is that traditional payment institutions are moving much faster than many people in the industry expected to stake out territory in compliant cross-border payments. Western Union, a traditional remittance giant, is officially moving on-chain to directly address the pain points of wire transfers, which can take days and carry hefty fees, by using stablecoin settlement to reduce costs and boost efficiency. Choosing a compliant custodian like Anchorage for the underlying infrastructure also shows that VisaNet is being transformed from a traditional, single-card-network system into an underlying protocol capable of supporting multi-currency clearing and settlement.
Now that traditional giants are bringing stablecoin settlement to everyday remittance channels, how much room do you think will be left for old-fashioned cross-border bank wires?
#稳定币 #跨境支付
