According to Foresight News, Visa has announced plans to conduct a pilot program that will enable USDC transactions through the Solana blockchain for select merchants. The move is part of the company's efforts to expand its digital currency capabilities and offer more payment options to its customers.
The pilot program will allow participating merchants to accept USDC payments directly from customers, without the need for a third-party intermediary. This is expected to streamline the payment process and reduce transaction costs for both merchants and customers.
Solana was chosen as the blockchain platform for this pilot due to its high transaction throughput and low fees. The platform is capable of processing up to 65,000 transactions per second, making it a suitable choice for handling large volumes of payments.
Visa's decision to explore USDC transactions through Solana is a significant step for the company, as it continues to embrace digital currencies and their potential to transform the global payments landscape. The pilot program is expected to provide valuable insights into the feasibility of using blockchain technology for payment processing on a larger scale.
The success of this pilot could pave the way for more widespread adoption of digital currencies in the payments industry, as well as further integration of blockchain technology into Visa's existing payment infrastructure.
