Visa plans to support more stablecoins, more chains and more use cases within its settlement platform.
The stablecoin ecosystem is expanding, and Visa is at the forefront of its development. As global interest in stablecoins takes center stage, Visa is building on its leadership in the space and enabling support for more stablecoins and more blockchains to facilitate settlement transactions for issuers and acquirers.
„Visa’s settlement platform is adding support for two additional USD-backed stablecoins, two blockchains and the euro-backed EURC.” – according to the press release.
What’s new
More stablecoins: Through a new partnership with Paxos, Visa will be able to support two additional dollar-backed stablecoins, Global Dollar (USDG) and PayPal USD (PYUSD), bringing the transformative power of two more trusted stablecoins to our partners
More chains: Visa has added support for two blockchains, Stellar and Avalanche, in addition to already supported chains, Ethereum and Solana
More currencies: Visa has integrated Circle’s euro-backed stablecoin, EURC
“Visa is building a multi-coin and multi-chain foundation to help meet the needs of our partners worldwide,” said Rubail Birwadker, Global Head of Growth Products and Strategic Partnerships, Visa. “We believe that when stablecoins are trusted, scalable and interoperable, they can fundamentally transform how money moves around the world.”
Visa continues to build on years of real-world pilots and live stablecoin settlement activity. With these additions, the Visa network is enabled to support four stablecoins and four unique blockchains.
Enabling EURC settlement
„With EURC integrated into the Visa Network, select pilot participating Visa partners can now access settlement in both USD- and EUR-backed stablecoins. This extends Visa’s crypto and treasury infrastructure capabilities which already facilitates settlement in more than 25 fiat currencies worldwide.” – Visa explained.
A leading network for stablecoin acceptance
Earlier this year, Visa announced the expansion of its stablecoin-linked card partners. For stablecoin-linked cards to scale, they require a network that:
. Meets stablecoin wallets where they are – enabling interoperability across multiple blockchains
. Enables flexible settlement options by directly accepting for settlement stablecoins in connection with cards operating across multiple blockchains
. Addresses growing market demand, meeting interest from banks, merchants, developers, and fintechs while helping to reduce friction and increase speed for cross- border and onchain transactions
„As new stablecoins and blockchains continue to emerge and show promise of true utility, Visa’s mission remains clear: build the interoperable layer designed to make stablecoin payments work at scale just as our traditional payments have worked – securely, reliably and globally.” – the company said.
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