Visa has become a partner of ConsenSys: will combine all CBDC and regular money into a single payment system

Visa стала партнером ConsenSys: объединят все CBDC и обычные деньги в единую платежную систему

  • Visa signed a contract with blockchain developer ConsenSys
  • They will create technology that will integrate CBDC digital currencies with banking operations around the world
  • CBDC can be used everywhere where Visa is accepted

Payment giant Visa partnered with ConsenSys, a software developer that scales the Ethereum network. They have conceived a massive project that combines central bank digital currencies (CBDCs) with payments around the planet.

What will happen in the end

With the new ecosystem, customers will be able to use their Visa card or CBDC-linked digital wallet wherever Visa is accepted.

“This project will expand access to financial services. Going forward, it will help improve the security of government payments, make them more targeted and efficient, ”writes Katherine Gu, Visa’s CBDC Leader, in her blog.

She added that Visa will act as a bridge for CBDC to the existing payment systems. At the same time, such a transition will be as easy as possible: banks and state issuers should simply connect to the ecosystem and integrate their infrastructure here.

Timing

The Visa Cryptocurrency Department will launch the first pilot programs with central banks in spring.

Ukraine also needs in such technologies, because the Ministry of Digital Industry has already launched a pilot CBDC project. So far, E-Hryvnia is being tested only by employees of the DIA, but if everything goes well, the state will launch the digital currency already in 20140 year.

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