Visa is taking significant steps to bolster its blockchain infrastructure by expanding its collaboration with Circle, the issuer of the USDC stablecoin. As emphasized in the official statement, this partnership focuses on the newly launched Arc blockchain, which is tailored for commercial payment activities.
Introduction of the Arc Blockchain
The Arc blockchain, introduced in late October 2023, aims to deliver the performance and scalability required for Visa's extensive global operations. As a design partner, Visa is set to leverage Arc for USDC settlements, indicating a strategic shift towards integrating blockchain technology into its payment systems.
Visa's Role in the Arc Network
In addition to utilizing Arc for transactions, Visa will also operate a validator node on the network. This move not only highlights Visa's commitment to enhancing its blockchain capabilities but also positions the company as a key player in the development of a robust settlement infrastructure for the future.
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