Visa Announces Launch of Platform for Exchanging Stablecoins for Fiat Money
Alfred Kelly, CEO of payment company Visa, said in early 2023 his company plans to build a global blockchain payment infrastructure whose underlying asset will be fiat-backed stablecoins.
Last week, Cuy Sheffield, who represents the top management of Visa, confirmed the company’s plans and announced the launch of an Ethereum service for converting the USDC stablecoin into fiat money.
In addition, users will be able to make calculations for large amounts. They will also be able to carry out transactions with tokenized assets. They can be exchanged for both US dollars and euros.