Visa Expands Settlement with Stellar, Avalanche, and New Stablecoins
- Visa Adds Stellar and Avalanche to Settlement Platform
- Stablecoins PYUSD, USDG, and EURC Receive Official Support
- Expansion strengthens global payments with blockchain
Visa announced the expansion of its stablecoin settlement platform, incorporating support for two new blockchains and three additional stablecoins. The global payments company now operates on four networks: Ethereum (ETH), Solana (SOL), Stellar (XLM), and Avalanche (AVAX), reinforcing its commitment to building a multichain infrastructure for digital transactions.
In the stablecoin space, Visa now supports PayPal USD (PYUSD) and Global Dollar (USDG) through a partnership with blockchain infrastructure provider Paxos. It also includes EURC, a euro-backed stablecoin issued by Circle, allowing settlement in both dollars and euros. The addition of USDG comes shortly after the stablecoin's official launch in the European Union, under MiCA rules.
Rubail Birwadker, Global Head of Growth Products and Strategic Partnerships at Visa, highlighted the importance of this expansion: "Visa is building a multi-currency, multi-chain foundation to help meet the needs of our partners around the world. We believe that when stablecoins are trustless, scalable, and interoperable, they can fundamentally transform how money flows around the world."
The update reinforces the growing interest of payment providers, fintechs, and banks in stablecoin solutions, aiming to speed up and reduce costs in international transfers. Visa had already demonstrated its pioneering role in this sector by beginning settlement experiments with USD Coin (USDC) in 2020.
In 2024, the company launched its tokenization platform, a project designed to help financial institutions create their own tokens and stablecoins, aligning with the digitalization of the financial system. This new phase, with Stellar, Avalanche, and the three stablecoins, solidifies Visa as a leader in developing blockchain-based payment solutions, offering greater interoperability and efficiency for users and business partners.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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