Visa deepens its blockchain presence, boosting stablecoin support and digital payment options.
Visa boosts its blockchain capabilities as stablecoin payments see record global growth
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Visa on Tuesday announced that it plans to support four stablecoins across four separate blockchains. Visa CEO Ryan Mclnerney announced the move, which is a notable step in Visa's larger plan to update its payment infrastructure. Mclnerney said the expansion, which will build on existing support for stablecoins representing two currencies, will allow Visa to convert them into over 25 fiat currencies. The announcement coincides with a fourfold increase in stablecoin-linked card spending on the Visa network over the same time last year.
Visa Strengthens Blockchain Integration Amidst Rising Stablecoin Adoption
The company already supports well-known stablecoins like Circle's USD Coin (USDC), Euro Coin (EURC), PayPal USD (PYUSD), and Global Dollar (USDG) across the Ethereum, Solana, Stellar, and Avalanche networks. However, Mclnerney did not reveal which tokens or blockchains will be supported by Visa. The decision to expand support further reflects the company's growing confidence in stablecoins as efficient instruments for cross-border transactions and settlements, particularly as regulatory frameworks around USD-pegged tokens continue to mature.
The company currently operates more than 130 stablecoin-linked card issuing programs in more than 40 countries, demonstrating the growing demand from consumers and businesses for stablecoin-based payments.
According to McInerney, Visa has facilitated over $140 billion (roughly Rs. 12,35,000 crore) in crypto and stablecoin flows since 2020, with users purchasing more than $100 billion (roughly Rs. 8,82,000 crore) worth of digital assets using Visa credentials.
Visa had also launched a pilot project under its Visa Direct arm that allows banks and financial institutions to pre-fund cross-border payments using stablecoins such as USDC and EURC. The firm has already settled about $225 million (roughly Rs. 1,875 crore) in stablecoin volume to date, and a broader rollout is expected in 2026.
By enabling banks to mint and burn their own tokens, Visa intends to further enhance its stablecoin infrastructure in the future. Mclnerney said the company's focus will remain on strengthening its solutions layer to give clients greater flexibility in managing digital assets. “There is much more to come in this space,” he added, signalling Visa's continued push to integrate blockchain-based payments into mainstream financial systems.
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