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Visa And ConsenSys To Develop Module For CBDC Integration

Anna Martynova

Visa has announced a partnership with ConsenSys to develop a module designed to help central banks and financial institutions build user-friendly services on top of central bank digital currency (CBDC) networks. The solution will allow consumers to use a CBDC-linked payment card or digital wallet wherever Visa is accepted.

The Visa payment module is designed to make it easier for financial service providers to access CBDCs. Banks and institutions will be able to integrate their existing infrastructure with these networks, allowing them to issue digital currency-linked payment cards.

Visa is in the process of integrating the module with the ConsenSys Codefi payment solution sandbox, which runs on the Quorum blockchain platform. Visa plans to test use cases for the module in the spring.

Image: Cryptoast

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