Credit Card Giant Visa Expands Settlement Support to Three New Stablecoins and Two Major Blockchains
Credit card payments giant Visa is expanding crypto settlement options by adding support to three new stablecoins and two blockchains.
In a new press release, Visa says it is doubling down on its commitment to stablecoin ecosystem development by adding more stablecoins and blockchains to its settlement options.
“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.”
Says Visa Global Head of Growth Products and Strategic Partnerships, Rubail Birwadker,
“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.”
Last month, Visa CEO Ryan McInerney said the payments giant has long been preparing for the greater adoption of stablecoins.
“We’ve been embracing and building for years, preparing for this moment. The GENIUS Act has now passed the Senate and is expected to pass the House. I think that will give regulatory clarity [for] stablecoins. And we’ve been embracing stablecoins.
We’ve been enabling people to issue Visa credentials on top of stablecoins, we’ve been modernizing our own settlement infrastructure with stablecoins and we have a whole host of innovations that we plan to deploy around the world embracing stablecoins.”
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Featured Image: Shutterstock/Willyam Bradberry/Vladimir Sazonov/Nikelser Kate
