According to Reuters’ last information, the stablecoin, called USDC produced in partnership with Visa, Coinbase, and Circle. This partnership will allow USDC to use in payments.
It states that Visa, which started a pilot program with Crypto.com regarding USDC spending transactions. Moreover, Visa and Crypto.com will expand the program in the upcoming period by adding USDC payment without conversion.
Effects on Daily life
This step, which is very important for USDC, stands out as the closest to the regulations among the stablecoins. The dollar-indexed coin is crucial at the point of using cryptocurrencies in daily life.
Visa, which has partnered with the digital asset bank Anchorage. It received a banking license from the USA in the past months. Since they announced that Crypto.com made the first transaction on the Ethereum network by sending USDC to Anchorage’s Ethereum wallet.
In the past period, Visa partner institutions were making the payment by converting cryptocurrency balances into fiat currencies instantly before the transaction to spend cryptocurrencies.
In the new situation mentioned above, payments are allowed to make with USDC without any conversion.