Precisely for this reason Visa has decided to focus on a stablecoin that protects against excessive fluctuations.
Usdc is in fact a cryptocurrency, based on the Ethereum blockchain, tied to parity with the dollar launched two years ago by the fintech Circle which recently exceeded the capitalization of ten billion dollars. Just a year ago it was around one billion dollars, at the beginning of 2021 it was 4.5 billion.
Each USD Coin issued is guaranteed by a reserve dollar, a guarantee covered by the Center consortium, founded by Circle together with the Coinbase exchange and Bitmain, a mining company which is a shareholder of Circle.
Also Diem, the Facebook cryptocurrency which could be launched soon, from which Visa withdrew after being among the initial members, has chosen the path of the stablecoin linked to the dollar and no longer an international basket of values, as it was in the original project.
By partnering with Anchorage, the first federally approved digital asset bank and Visa partner for the settlement of digital currencies, Visa has launched a pilot program that allows Crypto.com to send USDC digital currency to Visa to liquidate a portion. of the daily billing related to the card program that sees the exchange as issuer.