Visa, Mastercard Adopt Blockchain for Payments

IndustryTrends

Visa and Mastercard, with 70% market share, explore blockchain for cross-border payments, staying technologically relevant.

Visa works with Circle for faster cross-border payments on Ethereum and Solana, meeting merchant demands for stablecoin transactions.

Visa experiments on Ethereum's Goerli testnet to simplify user interactions, removing the need for users to hold Ether for gas fees.

Visa and Mastercard actively trial CBDCs, exploring digital settlement for tokenized deposits and testing use cases with various central banks.

Visa collaborates with 70+ crypto platforms for cryptocurrency-linked cards, while Mastercard focuses on compliance, fraud detection, and supporting CBDC projects.

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