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Visa partners with AquaNow to promote stablecoin Settlement, traditional payment giants accelerate the embrace of on-chain technology.
[Chain News] Payment giant Visa has recently made significant moves. They announced a partnership with blockchain liquidity service provider AquaNow to use stablecoins to accelerate cross-border settlement processes.
This collaboration is actually quite interesting—traditional payment networks have always been known for being “slow,” with cross-border transfers often taking several days to settle. Now Visa is starting to embrace on-chain stablecoins, seemingly aiming to use crypto technology to solve old problems. AquaNow mainly provides liquidity support and technical integration, allowing stablecoins to seamlessly connect to Visa's existing system.
In simple terms: in the future, using Visa to go through the stablecoin channel, the settlement speed can be compressed from T+3 to minute-level. This speed improvement is not insignificant for cross-border trade and remittance business.