Visa is apparently exploring accepting stablecoins as payment from the Ethereum network and USDC. Cuy Sheffield, head of Visa's Crypto Division, shared this at a recent conference.
"That'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."
This could be huge for the crypto industry. As we all know, one of the most difficult things about crypto is getting fiat into crypto and then crypto back into fiat. Imagine being able to pay your Visa bills with crypto. You could use your card(s) to pay for almost anything and then pay the bill with crypto by converting to USDC and paying it off. Essentially, all of your crypto could be used to make payments. There would obviously be a couple steps involved, but it could all be done without a bank account.
You can read the full article here, on CoinTelegraph. A couple of the quotes later in the article are very confusing so I'm not sure how close they are to actually doing something along these lines, but the fact that they have a "Crypto Division" and are obviously spending millions of dollars researching this is a very positive sign in my book.
Am I missing something? Or does this seem like it would be a massive step towards mass-adoption?
