Visa to Drive Stablecoin Adoption with ‘Ambitious’ Crypto Product
• Visa is launching a cryptocurrency-related product to drive mainstream adoption of public blockchain networks and stablecoin payments.
• The payment giant is hiring senior software engineers to help build the product, requiring experience with writing smart contracts using Solidity language.
• Last year, Visa partnered with Circle to support the USD Coin (USDC) stablecoin on certain credit cards.
Visa’s Crypto Plans
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, announced a new cryptocurrency-related project developed by the firm that is designed to drive mainstream adoption of public blockchain networks and stablecoin payments.
Software Engineers Needed
In order for this project to be successful, Visa is seeking to hire software engineers focused on programming, backend systems Web3 technologies, particularly with experience using Github Copilot and other AI assisted engineering tools to write and debug smart contracts. Applicants should have good understanding of layer 1 and layer 2 solutions as well as experience with writing smart contracts using the programming language Solidity. They should also have knowledge in public and permissioned distributed ledger networks, security protocols, private key custody as well as new Ethereum enhancements such as ERC-4337.
Previous Move into Crypto Industry
One of the world’s largest payments companies, Visa made a major move into the crypto industry in 2020 when they partnered with blockchain firm Circle to support the USD Coin (USDC) stablecoin on certain credit cards. Since then they have been gradually expanding their crypto offering but recently paused some new initiatives due to regulatory uncertainty around digital assets in some countries.
Aiming for Mainstream Adoption
Visa’s upcoming crypto product is aimed at driving mainstream adoption of public blockchain networks and stablecoin payments which has been their goal since last year’s partnership with Circle. Their job posting published earlier this month revealed that they are building “the next generation of products” in order facilitate digital commerce for everyday life users.
Continued Support for Crypto Industry
Despite recent regulatory uncertainties around digital assets in some countries, Visa has continued its support for cryptocurrencies by launching this ambitious project aiming at driving mainstream adoption of public blockchains and stablecoins payments by hiring software engineers needed for its development process.
