Bitcoin rises as Visa moves to approve crypto USD Coin – Yahoo Finance Australia

Bitcoin rises as Visa moves to approve crypto USD Coin – Yahoo Finance Australia


Bitcoin golden physical coin illustration on dark black background with reflection. Visual representations of the digital Cryptocurrency Bitcoin. Bitcoin with the symbol BTC, XBT is a popular digital currency that showed growth and is widely spread, accepted from banks, markets and other services and shops as ways of payments. The exchange rate today for 1 bitcoin blockchain is 55.883 US Dollar. Bitcoin is traded in historical record prices touching almost $60000 in the markets. Eindhoven, the Netherlands on March 27, 2021 (Photo by Nicolas Economou/NurPhoto via Getty Images)

Bitcoin, one of the most popular cryptocurrencies, has seen huge institutional interest over the last few months. Photo: Nicolas Economou/NurPhoto via Getty Images

Bitcoin (BTCUSD=X) prices climbed as much as 3% by late-morning in London on Monday following yet more news of potential mainstream financial adoption of cryptocurrencies by major players.

Reuters news agency reported that Visa (V) had said it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network.

USD Coin is a stablecoin, meaning its value is directly pegged to the US dollar.

First launched in 2018, USD Coin is managed by a consortium called Centre, founded by peer-to-peer payments company Circle and including cryptocurrency exchange Coinbase and Bitcoin miner company Bitmain, which is an investor in Circle.

Watch: What is bitcoin?

Coinmarketcap.com estimates there is around $10bn (£7bn) worth of USDC in
Source…