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Fortune
Fortune
Ben Weiss

Visa to send stablecoin USDC over Solana to help pay merchants in crypto

Cuy Sheffield speaks at a conference. (Credit: Kelly Sullivan—Getty Images for TechCrunch)

Solana blockchain in a newly announced pilot.

While credit card holders can buy goods with a mere swipe or tap, Visa facilitates a complicated dance of payments in the background to enable every transaction. After a purchase, the cardholder’s bank wires money to Visa’s treasury, from which Visa pulls the funds and sends them to the merchant’s bank.

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