Visa has significantly expanded its stablecoin settlement platform, now supporting three new stablecoins and two additional blockchains, broadening its onchain payment infrastructure. The payments giant has integrated PayPal’s PYUSD, Global Dollar (USDG) issued by Paxos, and Circle’s euro-backed EURC. These join Circle’s USDC, which Visa began piloting for settlements in 2021. The platform's blockchain coverage has also grown beyond Ethereum and Solana to include Stellar and Avalanche. This expansion means Visa's stablecoin infrastructure now supports four stablecoins (USDC, PYUSD, USDG, and EURC) and operates across four networks (Ethereum, Solana, Stellar, and Avalanche). With the integration of EURC, select pilot partners can now settle transactions in both dollar- and euro-backed stablecoins, enhancing flexibility for cross-border and cross-blockchain fund movement, complementing Visa's existing global treasury infrastructure that handles over 25 fiat currencies. Rubail Birwadker, global head of growth products and strategic partnerships at Visa, stated, "Visa is building a multi-coin and multi-chain foundation to help meet the needs of our partners worldwide. We believe that when stablecoins are trusted, scalable and interoperable, they can fundamentally transform how money moves around the world." This move also follows increased demand from developers, banks, and merchants for more interoperable settlement layers, and comes shortly after the U.S. passed the GENIUS Act, offering regulatory clarity for stablecoins. Analysts project the stablecoin market could reach over $2 trillion in the coming years, up from approximately $273 billion currently.

Frequently Asked Questions (FAQ)

Visa's Stablecoin Expansion

Q: What new stablecoins does Visa now support on its platform? A: Visa now supports PayPal's PYUSD, Global Dollar (USDG), and Circle's euro-backed EURC. Q: Which new blockchains has Visa added to its stablecoin settlement platform? A: Visa has added Stellar and Avalanche to its platform. Q: How many stablecoins and blockchains does Visa's platform now support? A: Visa's platform now supports four stablecoins (USDC, PYUSD, USDG, EURC) and operates across four blockchains (Ethereum, Solana, Stellar, Avalanche). Q: What is the benefit of supporting both dollar- and euro-backed stablecoins? A: It allows select pilot partners to settle transactions in both currency types, providing greater flexibility in managing funds across borders and blockchains. Q: What is Visa's stated goal with this expansion? A: Visa aims to build a multi-coin and multi-chain foundation to meet the diverse needs of its global partners, believing that trusted, scalable, and interoperable stablecoins can transform global money movement.

Crypto Market AI's Take

Visa's strategic expansion into supporting a wider array of stablecoins and blockchains signifies a major step towards mainstream adoption of digital assets for global payments. This move by a financial titan like Visa not only validates the utility of stablecoins but also highlights the growing importance of interoperability across different blockchain networks. As the crypto market continues to mature, such integrations are crucial for bridging traditional finance with the decentralized world, offering greater efficiency and flexibility. For those looking to navigate this evolving landscape, understanding the underlying technologies and market trends is key. Our platform offers resources to help you stay informed, from AI-powered trading bots designed to analyze market volatility to comprehensive market analysis articles that break down complex financial trends.

Visa expands stablecoin settlement to include PayPal's PYUSD, Paxos-issued USDG, Circle's EURC, and adds support for Stellar and Avalanche

Visa's Stablecoin Expansion

Crypto Market AI's Take

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