Visa has announced a significant upgrade to its crypto strategy by adding support for new stablecoins and blockchains to its ecosystem.
Expansion of Stablecoin Support
Visa has added support for three stablecoins: PYUSD from PayPal, USDG from GMO Trust, and euro-backed EURC from Circle. These tokens are now part of Visa's settlement ecosystem, which already includes USDC. The expansion demonstrates Visa's commitment to making blockchain-based payments more seamless and interoperable.
New Blockchains Join the Visa Network
In addition to stablecoin support, Visa is also extending its network of supported blockchains by adding Stellar and Avalanche to Ethereum and Solana. This multi-chain approach enables Visa to process faster and more cost-effective transactions, leveraging the unique strengths of each blockchain to create a more scalable and efficient settlement process.
Impact on Crypto Payments
Visa's latest integration brings cryptocurrency closer to everyday financial systems. Stablecoins play a central role in this vision, offering the stability of traditional currencies combined with blockchain innovation. With the support of PYUSD, USDG, and EURC, Visa is enhancing the infrastructure for crypto-based commerce, potentially enabling real-time cross-border transactions, lower transaction fees, and increased financial inclusivity.
The expansion of stablecoin support and new blockchains underscores Visa's commitment to being at the forefront of digital finance, creating opportunities for more efficient and accessible financial solutions.
