Visa known for its credit cards today announced a partnership with U.S. Dollar Coin [USDC] built on ethereum [ETH] blockchain. This announcement comes just few days after ethereum completed its much awaited ETH 2.0 update. Many crypto experts are seeing this as a bullish sign for crypto industry.
60 Million Merchants on Visa’s network to use U.S. Digital Coin [USDC]
The news was shared by Forbes journalist Michael Del Castillo, in his articles he mentioned the digital currency USDC is now valued at 2.9 Billion. The digital currency was developed by circle internet financial and has raised over $270 Million so far. The partnership will allow selected Visa credit card issuers to integrate with USDC allowing them to send and receive payments in USDC.
It is to be noted that Visa currently has 60 Million merchants onboard and this can be seen as a huge boost to the entire ethereum ecosystem raising the credibility of the blockchain multifold. Ethereum 2.0 Beacon chain update recently went live and is expected to compete with likes of Visa and paypal.
From the Beacon Chain, onwards: Phase 0 launches the proof-of-stake network with multiple technical additions coming down the pike.
What you think will be the impact on Eth Price, let us know in the comments below?