{"id":548105,"date":"2023-02-05T19:03:19","date_gmt":"2023-02-05T16:03:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/visas-crypto-strategy-targets-stablecoin-settlements\/"},"modified":"2023-02-05T19:03:19","modified_gmt":"2023-02-05T16:03:19","slug":"visas-crypto-strategy-targets-stablecoin-settlements","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/visas-crypto-strategy-targets-stablecoin-settlements\/","title":{"rendered":"# Visa&#8217;s crypto strategy targets stablecoin settlements"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a24d509029c0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a24d509029c0\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/visas-crypto-strategy-targets-stablecoin-settlements\/#%E2%80%9D_Visas_crypto_strategy_targets_stablecoin_settlements_%E2%80%9C\" >&#8221; Visa&#8217;s crypto strategy targets stablecoin settlements &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Visas_crypto_strategy_targets_stablecoin_settlements_%E2%80%9C\"><\/span>&#8221; Visa&#8217;s crypto strategy targets stablecoin settlements &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDIvMmU1ZjI1MTMtZDI4NC00ZmY0LTlkMjYtZjRmYTdjMDA0ODExLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>Payment company Visa is seeking to build a &#8220;muscle memory&#8221; to settlements, aiming to allow customers to convert digital assets to fiat currencies on its platform, according to the company&#8217;s head of crypto division Cuy Sheffield at the StarkWare Sessions 2023.<\/p>\n<p>&#8220;We&#8217;ve been testing how to actually accept settlement payments from issuers in USDC starting on Ethereum and paying out in USDC (USDC) on Ethereum. So, these are large value settlement payments.&#8221;, noted Sheffield in a fireside chat at the event. Cointelegraph&#8217;s team is on the ground in Tel-Aviv covering the two-day Ethereum community conference.<\/p>\n<p>According to the executive, global settlement with digital assets and fiat currencies is one of the avenues that Visa is investing in. He specifically stated: <\/p>\n<blockquote><p>&#8220;That&#8217;s been one of the areas where we want to build muscle memory. The same way that we can convert between dollars in euros on a cross border transaction, we should be able to convert between digital tokenized dollars and traditional dollars.&#8221;<\/p><\/blockquote>\n<p>The payment giant has been exploring how to incorporate blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> into its existing network to move money faster, but settlements still take place on the Society for Worldwide Interbank Financial Telecommunications, or SWIFT system, a not for profit cooperative society formed by European bankers with the purpose of facilitating secure and standardized transaction communication between its members.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cuysheffield?ref_src=twsrc%5Etfw\">@cuysheffield<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Visa?ref_src=twsrc%5Etfw\">@visa<\/a> have fell into the rabbit hole of Account Abstraction! <\/p>\n<p>This is huge! <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/CFniLLBq5C\">pic.twitter.com\/CFniLLBq5C<\/a><\/p>\n<p>\u2014 Starknet-Ecosystem.com \u2728 (@StarkNetEco) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/StarkNetEco\/status\/1622212729061646339?ref_src=twsrc%5Etfw\">February 5, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;We set all over Swift, so we can&#8217;t move money as frequently as we&#8217;d like because there are a number of limitations that exist in those networks. And so, we&#8217;ve been experimenting, we publicly announced. We&#8217;ve been testing how to actually accept settlement payments [with stablecoins],&#8221; Sheffield explained.\u00a0<\/p>\n<p>Recently speaking at Visa\u2019s annual shareholder meeting, former CEO Al Kelly briefly shared the firm\u2019s plans for central bank digital currencies (CBDCs) and private stablecoins, claiming that &#8220;stablecoins and central bank digital currencies have the potential to play a meaningful role in the payments space, and we have a number of initiatives underway.\u201d<\/p>\n<p>Sheffield confirmed the company&#8217;s view for blockchain technology and digital assets. &#8220;We&#8217;re thinking a lot about how to take some of the value that visa provides on existing bank rails, with existing forms of beyond in a rebuild that on top of blockchain rails, using stable boards. If we think there are huge opportunities in that area, it just kind of stays on emerging.&#8221;<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/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-s-crypto-strategy-targets-stablecoin-settlements\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Visa&#8217;s crypto strategy targets stablecoin settlements &#8220; Payment company Visa is seeking to build a &#8220;muscle memory&#8221; to settlements, aiming to allow customers to convert digital assets to fiat currencies on its platform, according to the company&#8217;s head of crypto division Cuy Sheffield at the StarkWare Sessions 2023. &#8220;We&#8217;ve been testing how to actually&#8230;<\/p>\n","protected":false},"author":1,"featured_media":548106,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/2e5f2513-d284-4ff4-9d26-f4fa7c004811.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74891,75434,77456,74355,117],"class_list":["post-548105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ethereum","tag-smart-contracts","tag-visa","tag-adoption","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/548105","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=548105"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/548105\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/548106"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=548105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=548105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=548105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}