Lithic — a card issuing platform, and Lightspark — a developer of infrastructure for international money transfers, have announced the launch of a joint product based on Visa. The cards are issued by Lead Bank, with settlements conducted in $USDC.
The $USDC settlement mechanism is built directly into the Lightspark platform. User funds are held in stablecoins and automatically converted to local currency at the moment of payment. This allows the new product to use the same settlement infrastructure as the company's entire payment network.
Lithic, with its Authorization Intelligence system, handles transaction processing. The system combines payment authorization, device verification, and fraud protection within a single programmable infrastructure.
Image: Magnific
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