Visa Settles the Ethereum Transactions And Enhances Its Dominance
The news about Visa settling the Ethereum network for USD Coin operation shattered the entire financial world. This resulted in Ethereum’s 8% growth. David Hoffman wrote an interesting text about the perspectives this collaboration opens for ETH and how it will impact the industry.
As Visa doesn’t have the assets of their own, now it goes after the demand. Being a centralized institution, it will definitely increase the number of participants in the Ethereum ecosystem. Therefore, the future integrations may include such assets as DAI and wBTC.
He sees this as “rug pulling the Fed”. Although the Federal Reserve will still have a monopoly because the dollar is the world’s reserve currency at the moment, the Ethereum ecosystem will grow and may compete dollar one day.