​Visa announces plans for mass adoption of blockchain and stablecoin payments

What’s new? The head of crypto at payments giant Visa, Cuy Sheffield, said that the company has an ambitious roadmap for cryptocurrency products. Visa is currently looking for experienced software developers with experience with Github Copilot and other artificial intelligence tools to write and debug smart contracts. According to Sheffield, the company plans to promote mass adoption of public blockchain networks and stablecoin payments.

We have an ambitious crypto product roadmap @Visa and just opened a few reqs for senior software engineers to help us drive mainstream adoption of public blockchain networks and stablecoin payments. https://t.co/UQRJNcOJtB — Cuy Sheffield (@cuysheffield) April 24, 2023

What else is known? The chief developer position was posted on Visa’s website on April 20. It states that the company’s crypto division “is building the next generation of products to facilitate commerce in everyone's digital and mobile lives.”

Potential candidates are required, among other things, to have knowledge of Layer 1 and Layer 2 (L1/L2) blockchain mechanisms as well as Solidity, the native programming language of the Ethereum network.

Visa and cryptocurrencies. In October 2022, Visa and Mastercard, jointly with crypto startup MinePlex, began developing technology to conduct crypto transactions. Visa and financial holding company JPMorgan also launched a project to optimize cross-border payments using their private blockchains.

Visa later applied for trademark registration of crypto wallet, NFT, and digital asset auditing software. That same month, Blockchain.com partnered with Visa to launch a card with cryptocurrency cashback and the ability to pay in fiat and digital assets.

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In December, Visa announced plans to automate transfers between fiat money and cryptocurrencies using Ethereum-based L2 StarkNet.

At the same time, crypto exchange Huobi announced a partnership with Visa to launch the card in Europe and further around the world. The Huobi Visa Card will be linked to users’ exchange accounts, allowing them to convert cryptocurrency into fiat.