Visa boosts the price of Solana (SOL)

Solana Crypto
Key facts:
  • Visa will use the Solana network for USDC transactions.
  • Pilot tests have already been carried out with card issuers and acquirers.

The price of Solana (SOL), the native cryptocurrency of the network that goes by the same name, reacted higher today.

It rose more than 5% this Tuesday, September 5, exceeding USD 20 for each SOL, which leads it to trade again at levels it had last week. This positions the cryptocurrency among the 5 that had the most gains in the last 24 hours.

Meanwhile, the main currencies in the market, bitcoin (BTC) and ether (ETH) registered the opposite behavior. They have developed a slight drop of less than 1% so far this day. SOL is back above USD 20 after five days.

The rise of SOL against the wind of the market occurred just after the Visa payment network announced that it is advancing an initiative related to its ecosystem.

As “its next step in modernizing the movement of money across borders,” Visa announced that it is expanding its USD Coin (USDC) stablecoin settlement capability through the Solana network, adding this service to the Worldpay and Nuvei digital currency platforms, after of having done so on

Visa further detailed that, through pilot tests, it has already moved millions of USDC between its partners through the Solana and Ethereum networks to settle fiat-denominated payments through VisaNet.

“Visa is committed to being at the forefront of digital currency innovation and the use of blockchains, and taking advantage of these new technologies to help improve the way we move money,” said Cuy Sheffield, the head of the area. of the company’s crypto assets.

In this way, Visa once again expressed its intention, already reported by the Market Times, to continue advancing in actions related to the cryptocurrency ecosystem.