Visa Hails Solana as Blockchain Payment Pioneer
Visa, a major credit card company, has highlighted Solana (SOL), a smart contract platform, as a standout competitor in the blockchain space for payment processing.
In a recent blog post, Visa lauded Solana (SOL) for its unique advantages, including low and consistent transfer fees, rapid transaction processing, and strong node support.
Visa noted that Solana even surpasses Bitcoin (BTC) and Ethereum (ETH) in certain aspects. Solana’s transaction fees are economical (typically less than $0.001) and predictable, making it an attractive option for enhancing cost efficiencies in payment systems.
Visa emphasized Solana’s efficiency and announced the expansion of its stablecoin settlement program to include Solana. This move aims to evaluate Solana’s capability to meet the evolving financial needs of modern corporations.
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Solana’s technological strengths combine to create a scalable blockchain platform ideal for payments. These include high transaction throughput through parallel processing, cost-effectiveness through localized fee markets, and resilience with a substantial node network.
These factors influenced Visa’s decision to include Solana in its stablecoin settlement pilot program. As they continue testing on the Solana network, Visa plans to assess whether Solana can effectively meet the requirements of modern corporate treasury operations.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
