Why did the payment giant Visa not take the lead in supporting Bitcoin, but chose a stable currency?

The world-renowned payment platform Visa will only use the US dollar stable currency (USDC) as a means of payment and transaction on its platform.

more than a month ago,The platform announced that it will only accept USDC instead of the market-leading high-value cryptocurrencies such as Bitcoin and Ethereum.

So why only USDC?

First of all, Visa seems unwilling to participate in the violent wave of value fluctuations in the encryption market, which is true for more than 85% of cryptocurrencies, including Bitcoin.

Visa is more inclined to use stablecoins for testing at a relatively stable level. USDC, as a type of stablecoin, has been authorized by the federal government and has huge U.S. dollar reserves as legal backing.

Also what makes it a top choice for Visa is the demand for it that crosses the $10 billion mark and the security of the reputable global financial firm Grant Thorton for its regulatory compliance and routine audit checks.

Visa has extensive experience in the encryption space, however it does not intend to do this work alone, ratherCooperate with Crypto.com, the world's largest crypto payment platform, to integrate two APIs for fast and seamless crypto transaction conversion and settlement.

Through this partnership, Visa's daily transactions will increase by more than 70 percent from the billions it currently processes. The two companies have launched several types of Crypto Visa cards that can be accepted and paid on various sales platforms for various everyday uses.

Visa CEO Al Kelly stated that the company hopes to start four basic businesses in the encryption field:Become a major player in the encrypted asset payment and purchase community; help traditional banks create APIs that connect to the encrypted market; propose more stable solutions; accelerate the establishment and acceptance of central bank digital currencies.

Given that CBDCs are still in an iterative phase, it is unclear what form this digital currency will ultimately take. What advantages it might have over the plethora of digital currencies already in the market.

What is certain, however, is that for the overly cautious investor, a CBDC will guarantee a centralized form of asset security and a buffer against volatility, unlike cryptocurrencies.

However, when these government-backed digital currencies are finally released, they will ultimately have to be stored in digital wallets that are vulnerable to internet failures or device outages, stifling transactions and making them less efficient than paper money.

Proponents of the innovation tout NFC and Bluetooth as ready-made means for offline transactions, but questions remain about the safety and security of assets.

The only clear advantage is the support of regulators, and CBDC seems to be becoming more effective in this race than traditional banknotes and decentralized cryptocurrencies.

Clearly, Visa has shown that its trajectory in the crypto-asset world is varied, and that it wants to side with the legitimacy of central authority. Visa has no regrets about losing out on the billions per second in transaction fees accumulated by all other cryptocurrencies representing 99% of the market.

For Bitcoin, however, Visa's snub is just a ketchup stain on its pure white reputation, and will not undermine its reputation based on consensus and consistency.

Frankly, these two industry giants can take care of themselves and develop themselves.