Visa Links VisaNet Data to Onchain Lending Infrastructure for Stablecoin Card Capital
Visa has linked its VisaNet data to onchain lending infrastructure for stablecoin Card Capital. This move aims to provide more efficient and cost-effective payment solutions using stablecoins, a type of cryptocurrency pegged to a fiat currency.
The partnership with Card Capital will enable Visa to settle transactions in stablecoins, reducing the need for traditional wire transfers. This development is part of Visa's efforts to expand its services and increase adoption of digital payments.
Stablecoins have gained popularity as a payment rail, with adjusted transaction volume expected to exceed $10 trillion in 2025, according to PayFi. The use of stablecoins and smart contracts can simplify cross-border transactions and reduce costs for businesses.