Visa wants to launch a universal payment channel on ETH

by in Cryptocurrency News


Visa has shown an increased interest in the blockchain industry over the past few years. In winter, it became known about the plans of the payment system to launch support for digital currencies.

As RBC clarifies, now the company wants to develop a network based on Ethereum for converting tokens, stablecoins, and digital currencies of central banks (CBDC).

The journalists found out that in the test version, the so-called universal payment channel is already deployed in the format of a smart contract on Ethereum.

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The company expects to create a kind of bridge between blockchains for interaction and transfer of digital assets. Tokens can be moved from one platform to another. Both ordinary people and corporations can become users of the channel. They will be able to transfer assets and exchange business information.

Note that at the beginning of this year, the payment system announced the creation of a service for buying digital currencies. It will be integrated into the banking sector. The developers promise to provide the corresponding software by the end of 2021.