Visa and ADI Team Up on Blockchain-Powered Digital Payments
Visa has partnered with Abu Dhabi-based ADI Foundation to explore the potential of blockchain-powered digital payments. The collaboration aims to examine how blockchain infrastructure can work alongside Visa's global payment network, assessing new digital payment and digital asset transaction systems. The agreement follows a Memorandum of Cooperation and remains exploratory, with no specific blockchain, stablecoin, product, or launch date announced.
The collaboration will focus on digital payment solutions, payment infrastructure, and the development of digital finance services, bringing Visa's payments network together with ADI's distributed ledger infrastructure. Vira Platonova, Visa's senior vice president and global head of money movement, said, 'The way money moves is evolving rapidly.' She added that Visa and ADI would look for opportunities involving businesses, consumers, and the payments sector by combining their respective experience in payments and blockchain infrastructure.
ADI Foundation has positioned its technology around institutional requirements such as policy compliance, interoperability, and day-to-day operations. Svyatoslav Senyuta, ADI Foundation's Chief Business Officer, said, 'The next stage of digital finance would depend on infrastructure capable of working with institutions that already move money globally.' He added that the collaboration would examine 'how blockchain-based infrastructure and electronic payment networks may complement one another.'