Visa is intensifying its support for stablecoins by adding settlement capabilities for three additional coins and two new blockchains.
According to Visa’s analysis, stablecoin adoption is surging, with a total transaction volume of $27 trillion across 1.25 billion transactions in 2024. In 2023, Visa became one of the first major payment networks to facilitate transactions in stablecoins, piloting settlement obligations in USDC.
Through its collaboration with Paxos, Visa is now extending support to dollar-backed stablecoins such as Global Dollar (USDG) and PayPal USD (PYUSD), along with Circle’s euro-backed EURC. Additionally, Visa has incorporated the Stellar and Avalanche blockchains into its offerings, joining Ethereum and Solana, which it already supports.
Visa has emphasized that every financial institution involved in money movement will require a stablecoin strategy. Its aim is to create an interoperable framework that enables stablecoin payments to function at scale.
Recently, Visa has made investments in the stablecoin infrastructure platform BVNK and partnered with Stripe-owned Bridge to extend access to stablecoin-linked cards to a wider audience.
Rubail Birwadker, Visa’s global head of growth products and strategic partnerships, stated, “We believe that when stablecoins are trusted, scalable, and interoperable, they can fundamentally transform how money moves around the world.”