Visa is expanding its stablecoin offerings by adding new stablecoins and blockchain networks to its settlement platform. This move aims to embrace more diversity in digital currency settlement options, reflecting the continuous evolution in the financial technology landscape.
Visa's platform will now support two new stablecoins, Global Dollar (USDG) and PayPal USD (PYUSD), both pegged to the U.S. dollar, as well as the euro-backed EURC. These additions are part of a new partnership with Paxos, enriching Visa’s ability to offer versatile digital payment solutions. Visa has also integrated Stellar and Avalanche blockchains, adding to existing networks like Ethereum and Solana. This multi-chain expansion enhances transaction speed, network diversity, and scalability, providing clients with more flexibility in how and where they process payments. Visa's head of crypto, Cuy Sheffield, highlighted that the company is responding to growing demand for onchain settlement.
Visa initially integrated stablecoin transactions in 2021 and has since enhanced its infrastructure to include USDC and blockchain technologies like Ethereum and Solana. The expansion leverages regulatory clarity from the GENIUS Act, as stablecoins pivot toward a $2 trillion utility in cross-border payments. Visa has already processed hundreds of millions of dollars in stablecoin transactions and is moving beyond pilot programs, making stablecoin integration a core part of its strategy.
The integration of EURC marks the first time Visa’s settlement platform supports a non-USD stablecoin. This allows select partners to transact in both dollar- and euro-backed digital assets, streamlining European commerce and eliminating costly FX conversion barriers.
Visa's expansion includes support for USDG, in response to rising interest from fintech and crypto companies seeking faster ways to move money without relying solely on banks. Many of these companies are already working with the Global Dollar Network, which promotes the use of digital dollars across borders. Visa’s long-term plan is to support many stablecoins, from different blockchains, and in other currencies, aiming to build a system that works for partners wherever they are.
Visa is building on its leadership in the stablecoin space, enabling support for more stablecoins and blockchains to facilitate settlement transactions for issuers and acquirers. This move enhances Visa's multicoin and multichain settlement services, offering businesses faster, cost-effective cross-border transactions. The company’s upgraded platform integrates Stellar’s cost-efficient settlement capabilities and Avalanche’s high-throughput architecture, quadrupling its blockchain reach. Partners now gain unprecedented flexibility to move funds across chains while leveraging Visa’s established global treasury rails supporting over 25 fiat currencies.
