Visa and UAE ADI Foundation to explore digital payment solutions
Visa, one of the leaders in digital payments globally is collaborating with UAE regulated ADI Foundation (ADI), an institutional gateway enabling public and private sector organizations to adopt blockchain technology through purpose-built, policy-aligned infrastructure, to explore opportunities in digital payments and emerging payment technologies.
The collaboration will bring together ADI Foundation’s DLT for digital finance and payments infrastructure designed around real world operational, policy and interoperability requirements with Visa’s expertise in global payments
The parties will explore three areas of cooperation to support innovation, efficiency, and interoperability across payment ecosystems:
● Digital payment solutions: including exploring mechanisms to facilitate faster and more efficient payment flows.
● Payment infrastructure: including exploring opportunities to develop or integrate technical infrastructure to support digital asset-based transaction flows.
● Digital finance ecosystem development: including exploring collaboration in support of innovation within the digital finance and payments space.
Vira Platonova, SVP and Global Head of Money Movement, Visa, noted that how money is moving is evolving repidly and as such financial institutions are exploring new forms of value exchange where trust and interoperability become important. She adds, ” Through our collaboration with ADI Foundation, we aim to explore opportunities for businesses, consumers and the broader payments ecosystem by combining the expertise of both organizations and contributing to innovation in digital payments and emerging technologies.”
Svyatoslav Senyuta, Chief Business Officer of ADI Foundation, added, “The next phase of digital finance will depend on infrastructure that works with the institutions that already move money at global scale, and ADI was built with that requirement in mind. Our collaboration with Visa gives us an opportunity to explore how blockchain-based infrastructure and electronic payment networks may complement one another, and to assess practical opportunities across digital payment solutions, payment infrastructure and the broader digital finance ecosystem.”
ADI Foundation has over the past year collaborated, partnered with various entities including MasterCard, SettleMint, BNY Mellon, Brickken, Chainlink and others.
