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Visa’s upcoming crypto product is designed to drive mainstream adoption of public blockchain networks and stablecoin payments. Global payment giant Visa continues to explore the benefits of the cryptocurrency industry with a new initiative focused on stablecoin payments. Cuy Sheffield, head of crypto at Visa, took to Twitter on April 24 to announce a new cryptocurrency-related project developed by the firm. Visa’s upcoming crypto product is designed to drive mainstream adoption of public blockchain networks and stablecoin payments, Sheffield noted. We have an ambitious crypto product roadmap @ Visa and just opened a few reqs for senior software engineers to help us drive mainstream Adoption of public blockchain networks and Stablecoin payments . https://t.co/UQRJNcOJtB — Cuy Sheffield (@cuysheffield) April 24, 2023 According to a Visa job posting published on April 20, the company’s crypto division is building the “next generation of products” to facilitate the digital comme...

One of the banking partners in the cross-border remittance service is also part of the government’s CBDC program. India’s national payment network, called the unified payments interface (UPI), is expanding its services beyond Indian borders to Singapore. The cross-border connectivity between Singapore and India via their respective rapid payment systems, namely PayNow and the UPI. Shri Shaktikanta Das, governor of the Reserve Bank, and Mr Ravi Menon, managing director of the Monetary Authority of Singapore, launched the facility through token transactions using the UPI-PayNow linkage. The UPI-PayNow integration will allow users of the two nations to send money across borders quickly. It is possible to send or receive money from India using only a UPI-id, cellphone number, or Virtual Payment Address for money held in bank accounts or e-wallets (VPA). UPI's instant real-time payment system helps to transfer cash immediately via a mobile interface between the two bank accounts. UPI ...