Big payment names back new stablecoin

Major credit card networks and tech giants are moving closer to integrating digital currency into everyday retail transactions. Visa, Mastercard, and Google are backing a new stablecoin called Open USD. For retailers, this signals a shift toward a future where you may accept payments that bypass traditional high-fee banking rails while settled in a dollar-pegged asset. This isn't just another cryptocurrency trend. It is a concerted effort by the players who manage your current merchant accounts to modernize how money moves. For businesses offering consumer financing, this technology could eventually lower the cost of capital and speed up funding times. Instead of waiting days for a lender to settle a financed purchase into your bank account, stablecoin integration allows for near-instant settlement. This project aims for a high level of compliance and stability. It is designed to work with the existing financial system rather than against it. You should watch this space as a potential new payment method to offer alongside credit cards and Buy Now, Pay Later (BNPL) options. The goal is to reduce the friction and cost currently associated with moving money between lenders, merchants, and consumers.

Source: Finextra — Lending

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