TL;DR
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Visa is looking to use Solana-based USDC stablecoin payments to make these transactions hit users accounts nearly instantly (starting with international payments).
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There are roughly 2.9B Visa cards in global circulation right now, the users of which won’t even know they’re using/supporting the proliferation of blockchain technology (it’ll all happen in the background).
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These USDC payments don’t come for free – there’s a network fee charged on every transaction (and Visa processes 242B transactions per year). The more of these that are done on crypto rails → the more money flows into Solana → the higher the SOL price climbs (in theory).
Full Story
Remember as a kid, that week before Christmas, as presents would start to accumulate under the tree?
You could see them. You could touch them. But you couldn’t open them (unless you dared stoke the wrath of mom).
If you’ve ever run a business, received a credit payment, or waited on an international wire – you’ll have experienced something similar.
The money is sitting right there in your account…but it’s ‘PENDING.’
(Taking an average of 1-3 business days to clear).
It’s an annoying problem for consumers, and a stressful one for business owners.
Crypto fixes this.
Visa is looking to use Solana-based USDC stablecoin payments to make these transactions hit users accounts nearly instantly (starting with international payments).
Ok, ok, we know what you’re thinking.
“…payments!? You put payments in the ‘
This is cool’ section?? You don’t deserve to wield the coveted nail-painting emoji.”
And you make a fair point…
So here’s what’s cool about this, broken into two categories:
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The broader crypto ecosystem
This integration of blockchain is like a trojan horse for crypto adaption!
There are roughly 2.9B Visa cards in global circulation right now, the users of which won’t even know they’re using/supporting the proliferation of blockchain technology (it’ll all happen in the background).
-
The Solana ecosystem
If you’re a Solana holder, this is great news!
These USDC payments don’t come for free – there’s a network fee charged on every transaction (and Visa processes 242B transactions per year).
The more of these that are done on crypto rails → the more money flows into Solana → the higher the SOL price climbs (in theory).
Not bad. Not bad at all.
