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TL;DR
Visa is wanting to make use of Solana-based USDC stablecoin funds to make these transactions hit customers accounts practically immediately (beginning with worldwide funds).
There are roughly 2.9B Visa playing cards in international circulation proper now, the customers of which will not even know they’re utilizing/supporting the proliferation of blockchain know-how (it’s going to all occur within the background).
These USDC funds do not come totally free – there is a community payment charged on each transaction (and Visa processes 242B transactions per yr). The extra of those which might be executed on crypto rails → the more cash flows into Solana → the upper the SOL worth climbs (in idea).
Full Story
Keep in mind as a child, that week earlier than Christmas, as presents would begin to accumulate below the tree?
You might see them. You might contact them. However you could not open them (until you dared stoke the wrath of mother).
If you happen to’ve ever run a enterprise, acquired a credit score fee, or waited on a world wire – you may have skilled one thing comparable.
The cash is sitting proper there in your account…nevertheless it’s ‘PENDING.’
(Taking a mean of 1-3 enterprise days to clear).
It is an annoying drawback for shoppers, and a tense one for enterprise house owners.
Crypto fixes this.
Visa is wanting to make use of Solana-based USDC stablecoin funds to make these transactions hit customers accounts practically immediately (beginning with worldwide funds).
Okay, okay, we all know what you are considering.
“…funds!? You place funds within the ‘💅 That is cool’ part?? You do not should wield the coveted nail-painting emoji.”
And also you make a good level…
So this is what’s cool about this, damaged into two classes:
The broader crypto ecosystem
This integration of blockchain is sort of a computer virus for crypto adaption!
There are roughly 2.9B Visa playing cards in international circulation proper now, the customers of which will not even know they’re utilizing/supporting the proliferation of blockchain know-how (it’s going to all occur within the background).
The Solana ecosystem
If you happen to’re a Solana holder, that is nice information!
These USDC funds do not come totally free – there is a community payment charged on each transaction (and Visa processes 242B transactions per yr).
The extra of those which might be executed on crypto rails → the more cash flows into Solana → the upper the SOL worth climbs (in idea).
Not unhealthy. Not unhealthy in any respect.
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