Visa develops interoperability concept for central bank digital currency payments
Payments giant Visa has taken a step toward achieving its vision for central bank digital currencies (CBDCs). It has developed a concept that shows how various CBDCs can be interoperable with each other to make payments.The concept, called "Universal Payments Channel" (UPC), outlines how various blockchain networks can be interconnected to allow the transfer of CBDCs. It shows how Visa can help exchange various CBDCs built on different blockchains in the future. "This is a much longer-term future thinking concept around a way that Visa could potentially help become a