Visa is working on a “global payment channel” to convert digital currencies

Posted:

October 1, 2021 20:16 GMT

The corporate system will allow central banks, businesses and consumers to make payments and exchange values ​​securely and without restrictions depending on the type of currency.

visa announce On Thursday, it is developing a “global payment channel” to facilitate the transfer of digital currencies from central banks, such as Sweden’s eKrona (KRN), and stablecoins such as USD Coin (USDC), which are pegged to the US dollar, in real time and through various networks.

Currently, the main problem of creating this “universal converter” that will be compatible with different digital wallets is to achieve interoperability between block chains and make different digital currencies, each with their own protocols and technological details, to be interchangeable.

“How about sending $500 to a friend in London and having that money automatically transferred to digital sterling before it reaches your central bank wallet?”

The creation of such a global channel will allow central banks, businesses and consumers to make payments and exchange values ​​securely, without problems and without restrictions depending on the type of currency.

“In the not-too-distant future, this could be a reality,” Visa says.

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