Visa Will Also Use Solana Network

Global payments giant Visa has announced that in addition to the Ethereum network, the Solana network will be used for fixed crypto payments. The company also announced its cooperation with Worldpay and Nuvei as part of the pilot program.

As part of the pilot program, Visa moved millions of USDC assets between Worldpay and Nuvei over the Ethereum and Solana networks to process fiat payments via the VisaNet platform.

Speaking about fixed crypto payments, Visa Crypto President Cuy Sheffield said that these initiatives are aimed at making international payments faster and providing customers with a fixed crypto payment option. Worldpay and Nuvei, which Visa started to cooperate with, are known as fintech companies that serve businesses operating in various sectors. Thus, businesses will be able to offer their customers the option to pay with stable crypto assets such as USDC, with the support of Visa. The development, which increases the adoption of cryptocurrencies in the field of payments, also means that Solana is used for the first time by a large payment company.

Apart from this development, Solana continues to attract attention as an investment product. Finally, according to the report shared by CoinShares, investment products based on Solana continue to record fund inflows during this period when the interest of institutions in altcoins is decreasing. The data indicated that Solana mutual funds have risen to $26 million since the beginning of the year.