Visa Expands Stablecoin Services in the Asia Pacific, Middle East, and Africa (CEMEA)
Enhancing the Power of Cryptocurrency in Global Payments
On June 19, Visa officially announced the expansion of stablecoin usage in the Middle East, Africa, and Eastern Europe (CEMEA). This event opens new opportunities for financial institutions to integrate cryptocurrency into the traditional payment ecosystem. With a strategic partnership with the African cryptocurrency exchange Yellow Card, Visa demonstrates its commitment to promoting cross-border payment solutions via stablecoin. This is particularly important in the context of the rapidly developing digital economy, where banks and financial institutions need to prepare stablecoin strategies before 2025.
Strategic Partnership with Cryptocurrency Exchange in Africa
Optimizing Fund Management and Liquidity
Within the framework of the cooperation, Visa and Yellow Card will focus on developing cross-border payment solutions to optimize fund management and enhance liquidity efficiency for financial service providers. Stablecoin-based transactions will provide fast payment experiences, low fees, and independence from traditional banking systems. This facilitates businesses and end-users in conducting international transactions, shortening time and minimizing exchange rate fluctuation risks.
Cryptocurrency Trends in Payment Organizations
The Director of Product Solutions at Visa for the CEMEA region, Mr. Godfrey Sullivan, stated: "All money transfer organizations will need to develop stablecoin strategies by 2025." This indicates the inevitable trend of the finance industry – transitioning to blockchain platforms to enhance operational efficiency, especially in a volatile legal and economic environment. Businesses need to quickly seize this opportunity to compete and adapt to digitalization trends.
The Development Prospects of Cryptocurrency in International Payments
The expansion of stablecoin services to promote cross-border payment capabilities, optimizing liquidity management, is a significant step forward in the development journey of the cryptocurrency industry. With the support of reputable platforms like Visa, cryptocurrency is increasingly becoming an indispensable part of the global financial ecosystem. Policymakers, central banks, and businesses are expected to actively develop stablecoin strategies, contributing to the promotion of fintech innovation and opening new opportunities for the cryptocurrency market in the CEMEA region.
Source: https://tintucbitcoin.com/visa-mo-rong-dich-vu-stablecoin-chau-au/
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