Does visa use blockchain?

03 Oct 2022 By PAYCEC

Visa has adopted blockchain technology for quite some time. The company had worked with to offer crypto-based rewards debit cards for several years, but the process was costly and time-consuming.

So in October 2016, Visa announced a collaboration with Chain, a prominent blockchain enterprise company, to develop Visa B2B Connect, a more secure way to process B2B blockchain international payments.

In 2019, Visa proposed allowing digital currency settlements over a public blockchain via its partner Anchorage, the first federally chartered digital asset bank.

From then on, Visa has been piloting the new program using USD Coin after upgrading its infrastructure.

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