VISA introduced a solution for the interaction of cryptocurrencies, Steblcoins and digital currencies of the Central Bank - Bits Media

The new project of the VISA payment operator for the interaction of blockchains can be a universal standard for different types of public and private blockchains.

Global payment giant Visa presented the project, The purpose of which is to become a "universal adapter blockchain ". The new product creates space, where various cryptocurrencies can interact, Stebblecoins and state digital currencies.

On the website Visa
There was information about that, that the research group is working on the decision "Universal payment channel" (UPC). The channel will become the center, which will connect blockchains and provide the environment, in which they can interact, transmit digital assets from different protocols and wallets.

The company believes, that already in the near future, UPC will be able to solve the issue of separate payment with cryptocurrencies:

"Imagine, What do you share with friends for a joint dinner. All at the table use different types of money - some use CBDC, eg, Swedish Ekrona, while others prefer stablecoins, Such as USDC ".

The UPC project creates selected payment channels between different blockchain networks, National digital currency networks, between countries, and also connects the state digital currency with private stablcoin networks.

The VISA research group began to work on the UPC concept in 2018 year. The team was faced with the task of developing the structure of interaction, which will work regardless of the basic mechanisms of the block chain.

Visa reports on the global value of UPC: “The decision is aimed at, to serve as a network for blockchains, add value to many forms of movement of money regardless of that, Whether they occur on the VISA network or beyond ".

VISA has been actively involved in the development of the crypto industry for more than one year and contributes to the influx of institutional capital on the digital assets market. Payment service develops a set of API for banks. Thanks to the API, financial organizations will be able to offer customers services for working with crypto actures. The company provides payments in crypto actors for more than 50 cryptocurrency companies. In six months 2021 years on cryptocurrency cards have passed payments for $1 billion.