Visa explores ways to send digital currencies across different blockchains

Wednesday 6 October 2021 10:06 CET | News

Visa has announced a new research paper that explores a concept they call a Universal Payment Channel (UPC), a protocol that enables sending digital currencies across multiple blockchains.

The UPC is a hub that interconnects multiple blockchain networks and aims to allow for the secure transfer of digital currencies. Its focus is the interoperability between DLT systems while supporting customer experience and merchants to transact, no matter the network they are on.

Visa highlights the need for a UPC due to a large number of digital currencies and the necessity for a common network. The solution is viewed as a ‘universal adapter’ among blockchains, allowing central banks, businesses, and consumers to seamlessly exchange value, no matter the form factor of the currency.

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Keywords: Visa, blockchain, NFT, CBDC
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
This article is part of category

Blockchain & Cryptocurrencies