|

Visa Launches Stablecoins Advisory as Market Tops $300B — Banks Rush In?

Visa has launched a brand new “Stablecoins Advisory Practice” as the stablecoin market climbs above $300 billion simply as banks and monetary establishments speed up their engagement with digital {dollars}.

The transfer comes as conventional monetary establishments speed up their engagement with stablecoins following clearer regulatory indicators within the United States.

Visa Works With Early Clients on Stablecoin Strategies

Carl Rutstein, world head of Visa Consulting and Analytics, mentioned the follow is designed to fulfill rising shopper demand quite than push adoption indiscriminately.

He mentioned Visa is working with dozens of early purchasers, together with Navy Federal Credit Union, VyStar Credit Union, and Pathward, and expects the quantity to develop into the lots of.

The advisory work spans technique growth, technical structure, operational readiness, and implementation assist, with some purchasers in the end deciding whether or not stablecoins align with precise buyer wants.

Stablecoins are cryptocurrencies designed to keep up a set worth, sometimes pegged to the U.S. greenback by reserves.

Once largely confined to crypto buying and selling, they’re more and more getting used for funds, cross-border transfers, and business-to-business settlement, notably in areas with foreign money volatility or restricted entry to conventional banking rails.

According to DefiLlama knowledge, the worldwide stablecoin market capitalization now stands at $309.85 billion. Tether’s USDT stays dominant with a 60.10% market share and a market cap of $186.23 billion, adopted by Circle’s USDC at $78.31 billion.

Source: DefiLlama

Other stablecoins, together with Ethena’s USDe, Sky Dollar, Dai, and PayPal USD, make up smaller however rising parts of the market, collectively reflecting broader issuer variety.

Visa Pushes Stablecoins Deeper Into Global Payments

Visa’s newest transfer follows a collection of stablecoin initiatives by the corporate over the previous a number of years. In 2023, Visa piloted USDC settlement on blockchain networks and now helps greater than 130 stablecoin-linked card applications throughout 40 international locations.

Visa recently began testing a system that enables companies to fund cross-border funds utilizing stablecoins as an alternative of pre-depositing money into native accounts.

Visa has mentioned this system will develop in 2026 and targets banks, remittance companies, and monetary establishments that presently depend on expensive correspondent banking networks.

The push has been bolstered by regulatory readability within the United States following President Donald Trump’s signing of the GENIUS Act in July, which established formal guidelines for stablecoin issuance.

Since then, a number of monetary and funds companies have accelerated their stablecoin methods.

PayPal and Mastercard have expanded their digital greenback capabilities, whereas establishments such as Citigroup, JPMorgan, and Standard Chartered proceed to discover tokenized settlement and on-chain liquidity instruments.

Stablecoin Adoption Spreads Globally as Banks and Card Networks Step In

Visa’s advisory launch additionally arrives as stablecoin adoption spreads past the U.S. In Africa, Visa has partnered with Yellow Card Financial to support stablecoin funds throughout 20 international locations, whereas Circle has labored with Onafriq to attach stablecoins to lots of of wallets and financial institution accounts.

Mastercard recently partnered with Chainlink to let cardholders make on-chain crypto purchases. Meanwhile, Sony Bank plans to launch a regulated dollar-pegged stablecoin for funds inside its digital leisure ecosystem.

Institutions such as Goldman Sachs, Wells Fargo, McKinsey, Anchorage Digital, and GFT Technologies already provide advisory, analysis, or infrastructure providers tied to stablecoins.

Visa executives have constantly framed stablecoins not as a menace to current fee techniques, however as an extension of them.

Speaking earlier this 12 months, Visa’s head of crypto, Cuy Sheffield said the way forward for funds would mix conventional rails with on-chain settlement, quite than changing one with the opposite.

The submit Visa Launches Stablecoins Advisory as Market Tops $300B — Banks Rush In? appeared first on Cryptonews.

Similar Posts