3月29日, Capital邦 learned from media reports that payment card giant Visa announced it will allow the use of cryptocurrency USDC to settle transactions on its payment network.
Understanding USDC
USDC (USD Coin) was launched in September 2018 as a stablecoin pegged to the US dollar (1 USDC = 1 USD), issued by Circle.
Visa revealed it has launched a pilot program with payment and crypto platform Crypto.com, with plans to expand this option to more partners later this year.
Bitcoin's Market Performance
Today witnessed another significant surge in Bitcoin's price, breaking through $58,000 from $55,009.
Since early March when numerous enterprises entered the cryptocurrency market:
- Bitcoin's price initially surpassed $60,000
- Experienced frequent fluctuations
- Dropped to a weekly low of $50,772 on March 26
- Rebounded following news about the European Central Bank accelerating preparations for a digital euro
Current Bitcoin price (at time of publishing): $58,072
Key Industry Developments
- Growing corporate adoption of cryptocurrencies
- Increasing institutional interest driving market movements
- Regulatory advancements facilitating crypto payments
Why This Matters for Crypto Adoption
Visa's integration of USDC payments:
- Represents mainstream acceptance of stablecoins
- Provides real-world utility for cryptocurrencies
- May accelerate institutional adoption
Market Outlook
Analysts suggest this development could:
- Further legitimize cryptocurrency payments
- Increase merchant acceptance
- Stimulate additional financial innovations
FAQ Section
Q: What does Visa's USDC integration mean for consumers?
A: Eventually, customers may be able to pay merchants using cryptocurrency through Visa's network, with automatic conversion to fiat currency for merchants.
Q: Why is Bitcoin's price reacting positively?
A: Institutional adoption signals like this demonstrate growing mainstream acceptance, increasing investor confidence.
Q: How does USDC differ from other stablecoins?
A: USDC is fully regulated and backed 1:1 with dollar reserves, providing more transparency than some alternatives.
👉 Learn more about cryptocurrency payments
Q: Will other payment networks follow Visa's lead?
A: Industry experts anticipate competing networks will likely announce similar cryptocurrency integrations within 12-18 months.