Visa and Circle Internet Financial (“Circle”), which developed dollar-backed stablecoin USDC Coin (USDC), announced that from today Circle will help Visa card issuers to enable sending/receiving USDC payments.

The Forbes report says that “businesses will eventually be able to send international USDC payments to any business supported by Visa, and after those funds are converted to the national currency, spend them anywhere that accepts Visa.”

Once Circle has gone through Visa’s Fast Track program (sometime next year), Visa will create a card that allows any businesses to send/receive USDC to/from other businesses via the card. After the USDC funds are converted to the local currency, businesses can spend the money anywhere that takes Visa.

Visa’s Head of Crypto Cuy Sheffield had this to say:

“This will be the first, corporate card that will allow businesses to be able to spend a balance of USDC. And so we think that this will significantly increase the utility that USDC can have for Circle’s business clients”

Source: https://www.cryptocompare.com/email-updates/daily/2020/dec/03/