Visa plans to make CBDCs and stablecoins cross-chain interoperable
According to the official site, in order to make digital transaction cross-chain interoperable, Visa develops the concept of Universal Payments Channel (UPC). UPC acts as a hub, connecting multiple networks and enabling the secure transfer of digital currencies.
Visa plans to make CBDC and stablecoins cross-chain interoperablehttps://t.co/xvpHb09bID— FINTWIT (@fintwitnow) September 30, 2021
According to the company's researchers, many central banks will issue digital currencies in the coming years. Due to the unique design features, it is unlikely that these assets will be able to operate smoothly on the same network.
The UPS hub will connect different blockchains, whether it's CBDC networks between countries, or private stablecoin protocols.