Visa May Support USDC Credit Card After Adding Circle to ‘Fast Track’ Program

Visa on Wednesday is linking its payments network of 60 million merchants to the U.S. dollar coin (USDC) digital currency developed by Circle Internet Financial on the Ethereum blockchain, according to Forbes.

• While Visa itself won’t custody any USDC, Circle will be working with Visa to help select Visa credit card issuers start integrating the USDC software into their platforms and send and receive USDC payments.
• Eventually, Visa will support the issuance of a credit card that lets businesses send and receive USDC payments directly from any business using the card. 
• Circle spokesperson Josh Hawkins confirmed the move via email, saying the companies were targeting a 2021 launch.
• The companies will develop a corporate card that would let users spend USDC at vendors who accept Visa's cards.
• Visa head of crypto Cuy Sheffield confirmed the news on Twitter, writing "Circle will issue the first Visa corporate card connected to USDC to enable their business clients to spend USDC from their corporate treasury at 60M merchants."

This story is developing and will be updated when more information is available.

Read more: USDC Stablecoin Issuer Centre Hires Wall Street Veteran David Puth as CEO

UPDATE (Dec. 2, 15:15 UTC): Added a comment from Circle and confirmation from Visa.

UPDATE (Dec. 2, 16:50 UTC): Corrected verb in the headline and fourth bullet point, since Visa does not issue cards.