What do you know that visa doesn't know? Like if you could sit down with a decision maker and convince them that this is a bad idea, what would you tell them?
I'm sure their lawyers and accountants understand this and are fine with such a system.
From an investors perspective. There is the risk of extreme fluctuation in prices on exchanges. If people are paying their bills at one rate, but Visa is getting a different, lower exchange rate, then that could potentially cost the company dearly.
This is probably something they've also thought about and presumably they are scheming to make additional cash from arbitrage.
One could think that cryptcurrencies are foolish, while simultaneously thinking of ways a business could make money off of crypto or their holders.
They do a lot of other currency conversions and charge for it too. Maybe they're hoping to get some good fees for this from some merchants who want it?
I don't expect a lot of demand, but I'll speculate that perhaps there are some merchants who might prefer USDC over other kinds of currency conversion, depending which way has higher fees?
https://www.investopedia.com/foreign-transaction-fee-vs-curr...
It likely wouldn't convince anyone in that position, but damn is that crap a waste we don't need right now.
I wouldn't want to convince Visa decision makers of anything; they can market however they like! Settlement partners, on the other hand... I'll be very curious to see if any take them up on this.
So either that’s exactly why it’s a bad idea, or my understanding of how this works today has huge gaps. (Which wouldn’t surprise me a bit.) Can you clarify what’s in this for Visa?