Visa has officially rolled out its blockchain-based cross-border payment solution, allowing businesses and individuals to transfer funds across countries in real-time with lower fees. Built on its proprietary blockchain network, Visa’s solution aims to address the long-standing issues of high transaction costs and delays in the traditional banking system.
Benefits:
- Instant cross-border transactions
- Reduced costs compared to SWIFT network transfers
- Transparent and secure settlement process
Industry Impact: This move is expected to accelerate blockchain adoption in the global financial system.