Visa has expanded its stablecoin support capabilities by integrating digital assets and blockchain technologies, facilitating transaction settlements for issuers and acquirers.
The company has partnered with Paxos to introduce two additional dollar-backed stablecoins, Global Dollar (USDG) and PayPal USD (PYUSD), into its system.
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Furthermore, Visa has expanded its blockchain compatibility by adding support for Stellar and Avalanche.
These networks join Ethereum and Solana, which were already part of Visa’s supported blockchain ecosystems.
The integration of Circle’s euro-backed stablecoin, EURC, into the Visa network allows for settlement services not only in USD-backed stablecoins but also in EUR-backed ones.
Visa’s expansion into stablecoin-linked card partners earlier this year highlighted the necessity for a network that can interact with various blockchain wallets and offer a range of settlement options.
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By GlobalDataThe network’s design facilitates transactions across different blockchains and directly accepts stablecoins for card-based settlements.
Visa global growth products and strategic partnerships head Rubail Birwadker said: “Visa is building a multi-coin and multi-chain foundation to help meet the needs of our partners worldwide. We believe that when stablecoins are trusted, scalable and interoperable, they can fundamentally transform how money moves around the world.”
In June, Visa partnered with Yellow Card to extend the reach of its stablecoin settlement system to the CEMEA region.
