Visa to Expand Stablecoin Support Across Four Blockchains
Visa is deepening its push into digital property, saying plans to assist 4 new stablecoins throughout 4 separate blockchains as a part of its broader crypto growth technique.
Key Takeaways:
- Visa will add 4 new stablecoins throughout 4 blockchains, increasing its digital asset infrastructure and world cost attain.
- The firm has facilitated over $140 billion in stablecoin and crypto flows since 2020.
- Visa plans to let banks mint and burn stablecoins via its tokenized asset platform.
Speaking on the corporate’s fourth-quarter earnings call Tuesday, CEO Ryan McInerney mentioned Visa will “add assist for 4 stablecoins working on 4 distinctive blockchains, representing two currencies that we are able to settle for and convert to over 25 conventional fiat currencies.”
The transfer underscores Visa’s rising confidence in stablecoins as a key bridge between conventional finance and blockchain-based funds.
Visa Expands Beyond USDC and PYUSD With New Stablecoin Integrations
While McInerney didn’t disclose which stablecoins or networks can be included, the replace expands on Visa’s present integrations.
The firm at present helps Circle’s USDC and Euro Coin (EURC), PayPal’s PYUSD, and Global Dollar (USDG) throughout Ethereum, Solana, Stellar, and Avalanche.
Visa’s stablecoin ambitions have accelerated sharply over the previous yr. McInerney highlighted “specific momentum” within the sector, revealing that Visa has facilitated over $140 billion in crypto and stablecoin flows since 2020.
The agency’s stablecoin-linked card providers have seen spending quadruple year-over-year, whereas its stablecoin settlement community surpassed a $2.5 billion annualized quantity run price within the newest quarter.
The funds big can be increasing its position as a bridge for banks coming into the stablecoin ecosystem.
Through its Visa Direct pilot, launched in September, the corporate permits monetary establishments to pre-fund cross-border funds utilizing USDC and EURC.
McInerney mentioned the subsequent section will give attention to giving banks the flexibility to mint and burn their very own stablecoins utilizing Visa’s tokenized asset platform, in addition to strengthening cross-border cash motion by way of Visa Direct.
“There is rather more to come on this house,” McInerney advised traders, signaling Visa’s intent to flip stablecoins right into a mainstream funds rail for world commerce.
The replace comes as stablecoin transactions have surged to $46 trillion globally, in accordance to business knowledge, solidifying their position as one of many fastest-growing parts of the digital monetary system.
Western Union to Launch Dollar-Backed Stablecoin on Solana by 2026
Western Union can be coming into the stablecoin market with plans to launch the US Dollar Payment Token (USDPT) on the Solana blockchain within the first half of 2026.
The token, issued by Anchorage Digital Bank, will permit customers to transfer cash globally with decrease charges and sooner settlement occasions, lowering reliance on conventional banking intermediaries and risky forex conversions.
CEO Devin McGranahan described the transfer as a continuation of Western Union’s 175-year mission to simplify cash transfers, this time via blockchain know-how.
He mentioned Solana was chosen for its pace, scalability, and low-cost transactions, that are essential for the corporate’s high-volume remittance enterprise.
By leveraging blockchain rails, Western Union goals to make remittances practically instantaneous and extra clear.
If broadly adopted, USDPT may drive stablecoin use past crypto buying and selling and into on a regular basis funds, invoice settlements, and cross-border commerce, marking a pivotal step towards mainstream digital greenback adoption.
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