Visa’s Head of Crypto Inquires About Solana (SOL), PayPal Officially Enables Crypto Trading for UK Customers

Visa’s Head of Crypto Inquires About Solana (SOL), PayPal Officially Enables Crypto Trading for UK Customers

Payment giant PayPal announced on Friday that all the eligible customers in the UK can now buy, hold, and sell cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) & Litecoin (LTC), from their PayPal account.

While PayPal has gone with the typical crypto assets, Visa is currently exploring Solana (SOL). However, for now, it is related to stablecoin USDC.

“Would love to chat with anyone building a wallet on Solana that supports USDC and see how we can help with on-ramps and off-ramps,” said Cuy Sheffield, head of crypto at Visa.

Earlier this year, the payment card network had announced support for USDC to settle transactions. USDC is a stablecoin founded by the Center consortium of Circle and Coinbase, which supports several blockchains, including Ethereum, Algorand, Stellar, and Solana.

Last week, Jeremy Allaire, co-founder & CEO of Circle, had shared “the rapid growth of USDC on Solana,” to which Sheffield later responded, “Amazing to see the growth of USDC on Solana.”

Allaire talked about USDC supply on Solana blockchain getting doubled to 2 billion in just a week in his thread.

Besides in crypto finance and fintech, multi-chain USDC sees serious experimentation “for consumer scale payments and commerce, with profound implications for the global payments industry. 2022 is going to be amazing on this front,” he had said, adding, with this architecture enabling seamless consumer and institutional UX “we will see breakthroughs in on-chain payments, banking and capital markets.”

Besides Solana, Sheffield also inquired about the best non-custodial wallets that are optimized for Ethereum layer 2s. Layer 2 solutions like Arbitrum and Optimism aim to solve scalability on the second-largest network, which started to gain traction recently.

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Author: AnTy

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