ETH News: Visa, a global payments giant, is looking forward to building a “muscle memory” around settlements. With the intention of increasing the ease of conversion between digital tokenized Dollars and traditional US dollars, Visa is currently investing in a global settlement involving crypto tokens and fiat currencies.
Visa and Ethereum: A Strong Blockchain Bond
During StarkWare Sessions 2023, Visa announced that they are testing how to accept large settlements on the Ethereum blockchain. This statement could act as a bullish catalyst for the second largest cryptocurrency in the market.
Cuy Sheffield, VP and Crypto Head at Visa said, “We tested how to accept issuer settlement payments in USDC, starting on Ethereum and cashing out in USDC. So these are settlement payments with great value.” He further added: “In the same way that we can convert dollars into euros in a cross-border transaction, we should be able to switch between digital tokenized dollars and traditional dollars.”
ETH Price Will Take a Bullish Turn?
Visa’s move fuels a bullish narrative for Ethereum as the cryptocurrency returned nearly 30% gains for holders over the past month. At the time of writing, the price of Ethereum (ETH) is $1,629.82, with a market cap of $199.44 billion and a 24-hour trading volume that is up 30.35%. Now it stands at $7,595,862,167. At the same time, the circulating supply is approximately 122,373,866 ETH according to crypto market tracker CoinMarketCap.
Source – CoinMarketCap
20-day EMA ($1,586) and bulls looking to assert their dominance illustrate the upside for buyers. If bulls succeed, the ETH price could rise to $1,800 and it could also rise to $2,000.
Also Read: Ethereum News: Here’s Why Ethereum Price May Break $1800 In February 2023?
Disclaimer: The information in this article is solely the opinion of the author and not investment advice
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