Visa Expands Settlement Platform to Support Three Stablecoins and Two Blockchains
Visa is expanding its stablecoin settlement platform to include new blockchains and stablecoins. Key updates include:
- Support for PayPal USD (PYUSD) and Global Dollar (USDG), in partnership with Paxos
- Addition of euro-backed EURC from Circle Internet (CRCL)
- Integration of Stellar (XLM) and Avalanche (AVAX) alongside existing support for Ethereum (ETH) and Solana (SOL)
- Platform now supports four stablecoins, including USDC, across four blockchains
This expansion aims to enhance cross-border payment efficiency as demand for stablecoins rises among financial entities. Visa's previous initiatives included exploring USDC settlements since 2020 and launching a tokenization platform for banks last year.
Rubail Birwadker, Visa's global head of growth products, emphasized the transformative potential of trusted, scalable, and interoperable stablecoins for global payments.