{"id":346430,"date":"2021-09-30T14:58:17","date_gmt":"2021-09-30T11:58:17","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/visa-working-on-blockchain-interoperability-hub-for-crypto-payments\/"},"modified":"2021-09-30T14:58:17","modified_gmt":"2021-09-30T11:58:17","slug":"visa-working-on-blockchain-interoperability-hub-for-crypto-payments","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/visa-working-on-blockchain-interoperability-hub-for-crypto-payments\/","title":{"rendered":"# Visa working on blockchain interoperability hub for crypto payments"},"content":{"rendered":"<p>&#8220;<strong># Visa working on blockchain interoperability hub for crypto payments <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvOTYzNzYyMTktMDYxMS00ZTYwLTk0ZmItMzhmMDQ2OTA0NjBkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Global payments giant Visa has introduced a project that aims to be a \u201cuniversal adapter\u201d of blockchains that can connect multiple cryptocurrencies, stablecoins as well as central bank digital currencies (CBDC).<\/p>\n<p>According to an official announcement on Thursday, Visa\u2019s research team is\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/usa.visa.com\/visa-everywhere\/blog\/bdp\/2021\/09\/29\/making-digital-currency-1632954547520.html?utm_source=OrganicSocial&amp;utm_medium=VisaNewsTwitter&amp;utm_campaign=UPC&amp;linkId=133846438\">working<\/a> on a \u201cUniversal Payment Channel\u201d (UPC) initiative, a blockchain interoperability hub connecting multiple blockchain networks and enabling transfers of digital assets from different protocols and wallets.<\/p>\n<p>\u201cImagine splitting the check with your friends, when everyone at the table is using a different type of money \u2014 some using CBDC like Sweden\u2019s eKrona, and others preferring a private stablecoin like USDC,\u201d Visa wrote, adding that such a tool \u201cwell may be a reality\u201d in the \u201cnot-too-distant future\u201d with the UPC project.<\/p>\n<p>Developed by Visa\u2019s research and product teams, the UPC project is designed to establish dedicated payment channels between different blockchain networks, connecting CBDC networks between countries as well as connecting CBDCs with private stablecoin networks. <\/p>\n<p>The Visa research team originally began working on the UPC concept back in 2018, developing an interoperability framework that would run independently of the underlying blockchain mechanisms.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Microsoft wins US patent for \u2018ledger-independent token service\u2019<\/em><\/strong><\/p>\n<p>\u201cUltimately, the UPC solution aims to serve as a network of blockchain networks \u2014 adding value to multiple forms of money movement, whether they originate on the Visa network, or beyond,\u201d the announcement reads.<\/p>\n<p>One of the world\u2019s largest payments companies, Visa made a major move into the crypto industry in 2020, partnering with blockchain firm Circle to support the USD Coin (USDC) stablecoin on certain credit cards. The company has since reaffirmed its commitment to crypto payments and fiat on-ramps, with a particular focus on stablecoin integrations.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/visa-working-on-blockchain-interoperability-hub-for-crypto-payments\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Visa working on blockchain interoperability hub for crypto payments &#8221; Global payments giant Visa has introduced a project that aims to be a \u201cuniversal adapter\u201d of blockchains that can connect multiple cryptocurrencies, stablecoins as well as central bank digital currencies (CBDC). According to an official announcement on Thursday, Visa\u2019s research team is\u00a0working on a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":346431,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvOTYzNzYyMTktMDYxMS00ZTYwLTk0ZmItMzhmMDQ2OTA0NjBkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75046,74863,74889,75493,77456,74355,117],"class_list":["post-346430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cbdc","tag-cryptocurrencies","tag-payments","tag-stablecoin","tag-visa","tag-adoption","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/346430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=346430"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/346430\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/346431"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=346430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=346430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=346430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}