Wirex will support EURC settlements through Visa's stablecoin settlement pilot
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Wirex will support EURC settlements through Visa's stablecoin settlement pilot
According to Crowdfund Insider, Web3 payment app Wirex announced it will support EURC settlements via Visa's stablecoin settlement pilot, marking a significant milestone for blockchain payments in Europe. Having completed the testing phase, Wirex has now enabled EURC settlement functionality across the Visa network. This collaboration utilizes EURC, a euro-pegged 1:1 stablecoin issued by Circle, enabling near real-time settlement. The integration will further streamline cross-border payments and improve the efficiency of cryptocurrency-to-fiat conversions. Svyatoslav Garal, Wirex's Head of Global Payments, stated this is an important step toward everyday digital currency payments and represents the first EURC settlement implementation in the EU. Wirex's long-standing partnership with Visa has processed over $20 billion in transactions. This new settlement capability will bring faster settlement, enhanced security and transparency to the payments industry, eliminating friction in traditional cross-border payments through blockchain technology.
Navigating Web3 tides with focused insightsTechFlow, August 17 — According to Crowdfund Insider, Web3 payment application Wirex announced it will support EURC settlements through Visa's stablecoin settlement pilot program, marking a significant milestone in the development of blockchain payments in Europe.
Having completed the testing phase, Wirex has now enabled EURC settlement functionality via the Visa network. This collaboration enables near real-time settlement using EURC, a euro-pegged 1:1 stablecoin issued by Circle.
The integration will further streamline cross-border payments and improve the efficiency of converting cryptocurrency into fiat currency. Svyatoslav Garal, Wirex's Global Head of Payments, stated this represents an important step toward enabling digital currencies for everyday transactions and marks the first implementation of EURC settlement within the European Union.
Wirex's long-standing partnership with Visa has processed over $20 billion in transactions. This new settlement capability is set to bring faster settlement, enhanced security, and greater transparency to the payments industry, eliminating friction in traditional cross-border payments through blockchain technology.
