On March 29, one of the largest worldwide payment processors Visa announced it will add support for the 2nd largest stable coin in the cryptocurrency market, USDC.
As Blockfinest previously reported on February 1st, 2021, Visa CEO described cryptocurrencies such as Bitcoin as “Digital Gold”. As we predicted, Visa finally added the first stable cryptocurrency to its payment network. According to Reuters, this is the largest sign of growing acceptance of cryptocurrencies by the mainstream financial industry.
However, the offer is limited currently. Visa has launched the service with the cryptocurrency platform, Crypto.com. And announced the feature will support more partners later in 2021.
Before the support for USDC, customers need to convert cryptocurrencies to traditional money that they are holding in the Crypto.com account when making payments with Crypto.com Visa card. That process cut down with the support for USDC.
The interesting fact is, the news from Visa just came 5 days after Tesla announced it adds support for Bitcoin to purchase Tesla electric vehicles. Which also made Bitcoin rise from around $54K to $56K.
According to CoinDesk however, Bitcoin also breaks near $58K after Visa adds support for USDC. But what do you guys think? Will it continue to rise? Or a dump will come?