Visa has announced plans for a Universal Payment Channel, which it says, “acts like a hub, interconnecting multiple blockchain networks and allowing for secure transfer of digital currencies.” Right now, many blockchain ledgers operate in silos, unable to transact with one another. For example, if users wanted to spend Bitcoin on an application that’s built on the Ethereum (ETH) network, it would be difficult. Interoperability would solve this problem. Without it, cryptocurrencies won’t be able to reach their full potential. Imagine not being able to transfer money, for example, between bank accounts held at different banks. That’s why various organizations, including Visa, are looking for solutions. Visa’s latest Universal Payment Channel shows it wants to maintain its pole position, whether that involves working with govcoins or existing cryptocurrencies. Visa says it is only a question of time before govcoins become the norm, which could put a dent in the long-term prospects of pure payment coins like Litecoin (LTC) and Bitcoin Cash.