The newly adopted federal law on stablecoins opens up the possibility for banks to use "digital dollars" backed by reserves. This creates conditions for faster and more cost-effective transactions.
The USDC stablecoin is a cryptocurrency with a fixed value of $1, supported by real assets, primarily U.S. Treasury bonds. For banks, this means that transactions can occur almost instantly and are available 24/7, unlike traditional methods that can take up to three business days.
According to Bloomberg estimates, by 2030, the volume of payments through stablecoins could exceed $50 trillion per year.
Visa representatives emphasize that the implementation of USDC allows issuers to take advantage of faster fund transfers through the blockchain.
As of November 30 of this year, the volume of Visa transactions using stablecoins amounted to over $3.5 billion on an annual basis.
