Wirex and Visa announced the launch of a pilot program for EURC stablecoin settlements in Europe. This move could significantly alter the use of digital currencies.
Launch of EURC Stablecoin Settlements
Wirex, in collaboration with Visa and Circle, announced settlements using EURC, a stablecoin pegged 1:1 to the euro. This marks the first pilot project for stablecoin settlements in Europe.
Enhancements in Transactions and Transfers
The pilot enhances real-time settlement capabilities, improving cross-border transactions. The partnership between Visa and Wirex highlights the growing popularity of stablecoins among users and within the financial sector.
> "Partnering with Visa to enable EURC settlements is a major step forward in our mission to make digital currencies practical for everyday payments." — Svyatoslav Garal, Global Head of Payments, Wirex
Past Projects and Their Impact
Previous projects, such as Visa's pilot with USDC through Crypto.com, demonstrated substantial interest despite limited impacts on protocols. The EURC pilot draws lessons from these examples, indicating broader trends in stablecoin adoption for settlements.
The Wirex and Visa partnership on EURC settlements may create new opportunities within the financial infrastructure and expand the use of stablecoins in Europe.
