Circle, Ripple and Visa join $10 million funding round for stablecoin platform Velocity

Visa and major crypto players are investing $10 million in Velocity, a platform designed to make stablecoins work for everyday commerce. For retailers and operators, this signals a shift in how customers might pay for large-ticket items in the near future. While credit cards dominate today, these industry leaders are betting on stablecoins to lower transaction costs and speed up settlements. Velocity aims to provide the plumbing that allows traditional financial institutions and merchants to accept digital dollars without the volatility usually associated with crypto. This investment is particularly important for high-ticket industries like furniture or automotive. Using stablecoins for consumer financing could eventually bypass expensive interchange fees and eliminate the multi-day wait for funds to clear. If your business relies on high-volume financing, the entry of Visa into this space suggests that digital currency is moving away from speculation and toward practical retail utility. You don't need to change your checkout process today, but you should keep an eye on how these tools integrate into existing payment gateways. The goal of this technology is to make a digital dollar payment feel exactly like a debit transaction for the customer, but cheaper and faster for the merchant.

Source: Finextra — Lending

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