- Visa now supports four stablecoins across Ethereum, Solana, Stellar, and Avalanche.
- Stablecoin expansion gives payment platforms more flexibility in global blockchain-based settlements.
- GENIUS Act fuels regulatory clarity, prompting payment networks to expand stablecoin support.
Visa has expanded its stablecoin settlement infrastructure to support three tokens and two new blockchain networks. The global payments giant now supports PayPal USD (PYUSD), Paxos-issued Global Dollar (USDG), Circle’s euro-backed EURC and blockchain networks Stellar and Avalanche.
According to the announcement, the move expands on Visa’s earlier support for USDC and represents a key step in the company’s multichain strategy. With this expansion, Visa’s platform now supports stablecoin settlements on Ethereum, Solana, Stellar and Avalanche.
Visa’s new architecture aims to minimize friction in international payments. The platform provides wallet providers and stablecoin-linked card issuers with access to blockchain-based services that can be integrated into existing financial systems.
Visa Adds PYUSD, USDG, and EURC to Settlement Network
The company now supports four stablecoins on its on-chain settlement platform. These include USDC, PYUSD, USDG, and EURC. The addition of EURC enables Visa’s pilot partners to settle in euro-backed digital assets for the first time, alongside U.S. dollar equivalents.
The addition of USDG and PYUSD also follows a collaboration with Paxos, a blockchain infrastructure provider. The tokens are pegged to the U.S. dollar and aim to improve efficiency in digital transactions among institutional partners. The company started its tests of stablecoins in 2021 with USDC, which contributed to developing an early-stage digital asset framework.
Furthermore, the update aligns Visa’s capabilities with evolving market demands. Rubail Birwadker, the global head of growth products and strategic partnerships at Visa, said the growth indicated the need for scalable, trusted, and interoperable digital currencies.
He also highlighted that stablecoins have the potential to transform the flow of money globally. Notably, the company recently exceeded $200 million in stablecoin transactions via its Visa Direct platform.
Stellar and Avalanche Join Visa’s Blockchain Ecosystem
Visa expanded its blockchain support by adding Avalanche and Stellar to its network. These new additions will be integrated with the current Ethereum and Solana systems. According to the company, the expanded blockchain network coverage aims to offer more flexibility for financial institutions and developers looking for various onchain solutions.
Stellar and Avalanche have different network features, such as lower fees and faster transaction finality. Their addition boosts the company’s capacity to accommodate heavy-throughput applications, which include cross-border transactions.
The firm has also built infrastructural support for multi-network processing of stablecoin settlements and operates in parallel to its framework of 25+ fiat currency settlements.
Also Read | Visa and Stripe’s Bridge Partner to Boost Easier Stablecoin Card Use in Latin America
Regulation and Institutional Demand Power Stablecoin Growth
Visa’s expansion follows recent U.S. regulatory developments. Recent laws like the GENIUS Act, enacted earlier this month, provide the legal framework defining stablecoins, thus causing large banks to consider digital asset integration plans. Analysts predict that stablecoins will play an essential role in the payment ecosystem over the next several years.
Stablecoin transaction volume is currently lower than that of traditional payment systems. However, the company’s investments in digital infrastructure represent its long-term strategy in blockchain technology’s role in finance. According to various industry estimates, the stablecoin market is expected to increase from $275 billion to an estimated $2 trillion by 2030.
Also Read | Peter Schiff Warns Stablecoins Could Undermine Treasury Demand: Report
