VISA announced that it is set to issue USDC Credit Card. The mega-brand is set to link a payment network of 60 million merchants. It is set to be developed by Circle Internet Financial on the ethereum blockchain.
However, in a notable turn of things, it has been informed that VISA will not take custody of USDC. At this point, Circle will take responsibility for the situation and help select VISA card users begin initiating USDC software onto their platform to receive and send the required payments.
Furthermore, shortly VISA will issue the credit card and allow businesses such as small, large, or medium sectors to withdraw directly using business cards.
VISA has been an American multinational financial corporation which is headquartered in California. It helps in electronic fund transfers through debit cards, credit cards, and prepaid cards for the uninitiated.
VISA was launched back in 1958 by Bank of America. It was renamed in 1976 after a different management took over.
VISA is the second largest in the world in terms of payment organization. China-based UnionPay had surpassed VISA in 2015, based on the value calculated with the annual transaction.
