Visa has announced the expansion of its stablecoin settlement platform by adding support for two new blockchains and three new stablecoins aimed at enhancing digital payment efficiency.
Visa's Platform Expansion
Visa has integrated Stellar and Avalanche alongside its existing support for Ethereum and Solana, bringing the total number of supported networks to four.
New Blockchains and Stablecoins
Visa has added PayPal USD and Global Dollar in partnership with Paxos. Additionally, EURC, a euro-backed stablecoin, has been introduced.
Visa's Multi-Chain and Multi-Currency Strategy
Rubail Birwadker, Visa's Global Head of Growth Products and Strategic Partnerships, stated that the company aims to build a foundational infrastructure to support multi-chain and multi-currency solutions, emphasizing the importance of trusted and scalable stablecoins.
This move by Visa aligns with the growing interest in stablecoins among payment providers and financial institutions looking to streamline cross-border transactions.
