World Network Engages Visa to Develop New Stablecoin Wallet
World Network, formerly known as Worldcoin, is in discussions with Visa to create a stablecoin wallet. Key points include:
- The initiative aims to integrate crypto features with Visa's global reach.
- The wallet would function as a "mini bank account," offering fiat on-ramps, foreign exchange capabilities, and on-chain card services.
- Discussions are led by Sam Altman, CEO of OpenAI, with the goal of facilitating stablecoin transactions via Visa's infrastructure.
- World Network's price increased significantly following the news, indicating investor optimism.
- Previous engagements by Visa in the crypto space included partnerships with Coinbase, but prior attempts at stablecoin integration faced challenges.
- Industry figures emphasize stablecoins' role in maintaining U.S. dollar dominance amid evolving regulations.
- The potential partnership could rejuvenate World Network after regulatory setbacks and price declines in 2024.
No official deal or timeline has been established yet, but ongoing dialogues suggest a growing interest in stablecoins within mainstream finance.