Visa is actively enhancing its position in the cryptocurrency market by increasing the number of supported stablecoins and integrating new blockchains into its payment network. Amid rising competition, the company seeks to lead in digital payments.
Strengthened Offer: A Response to Institutional Pressure
Visa has announced a strategic partnership with Tangem and expanded its list of supported stablecoins to include Global Dollar, PayPal USD (PYUSD), and Euro Coin. The company is also integrating two new blockchains into its settlement system: Stellar and Avalanche. These updates enrich an already extensive list, which includes Ethereum, Solana, and support for USDC issued by Circle.
Visa Takes Command in the Age of Stablecoins
The recent signing of the GENIUS bill in the United States marks an important signal for the market. Visa is responding to the growing pressure from institutional investors by ramping up its stablecoin offerings. Major players in the financial sector, such as Mastercard, are also actively developing their cryptocurrency offerings by increasing the number of tokenized transactions.
Competition from Banks and Other Players
As interest in stablecoins grows among companies like Walmart and Amazon, real threats may arise from the banks themselves. Institutions like Bank of America and JPMorgan are actively developing their own blockchain-based infrastructures. JPMorgan has even connected Coinbase to its Chase accounts, which could have far-reaching implications for future financial services.
Visa continues to actively develop its crypto infrastructure, aiming to lead amid the rapidly changing landscape of digital payments. This highlights the growing interconnection between the traditional financial system and blockchain technologies.
