A Simple Analysis of Visa's Introduction of USDC Settlement
On December 16, Visa announced the opening of stablecoin settlement capabilities to the U.S. payment network, allowing financial institutions to use USDC issued by Circle for transaction settlements via the Solana blockchain. At the same time, Visa stated that it would support Circle's Arc blockchain network.
This is the first time a traditional payment giant has incorporated compliant stablecoins into its core settlement system!
Two Major Impacts:
- Significant Growth Expected for USDC
USDC has officially entered the B2B cross-border payment market, which has a daily trading volume exceeding $30 billion, transitioning from a cryptocurrency trading medium. The Visa network processes approximately $15 trillion in transactions annually; even a very small percentage converting to USDC settlement will significantly enhance Circle's scale effect.
- On-chain VISA Steps In, Potentially High Annual Revenue!
Circle is transitioning from a "digital bank" reliant on government bond spreads to an "on-chain VISA" that charges transaction fees.
The Circle Payments Network (CPN) it is building plans to charge a transfer fee of 0.1%-0.25%. If it achieves a 10% transaction penetration rate like Visa, annual revenue could increase by $3.75 billion.
Additionally, as previously mentioned, the DTCC is promoting the tokenization of securities, which will also lead to a surge in institutional demand for USDC.
Overall, it aligns with previous expectations. To understand CRCL, the most important points I originally crafted are:
Stablecoins are the second growth curve for the U.S. dollar and U.S. Treasuries.
The global sale of U.S. dollars and U.S. Treasuries is a must-answer question for the U.S., not a multiple-choice question—stablecoins are the answer.
The three best "business" models in blockchain: BTC, stablecoins, and trading.
Compliance is about clearing the field; USDC will explode under legislative support.
Stablecoins compete on scale and network effects.
The on-chain integration of U.S. stocks, U.S. Treasuries, and dollar assets is the biggest growth engine for stablecoins.
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