Visa's Global CBDC Product Lead, Catherine Gu, announced that the company's research and product teams are working on a new Blockchain initiative dubbed Universal Payment Channel (UPC). It is a cross-chain interoperability hub that aims to connect all newly released CBDCs and stablecoins in one cross-chain platform to enable seamless transfers. In addition, the UPC hub would connect dedicated payment channels between Blockchains such as CBDC networks for different countries or vetted private stablecoin networks.