Visa To Add Support For Four Stablecoins Across Four “Unique Blockchains”
Payment giant Visa says it will roll out support for four stablecoins across four “unique blockchains” as adoption of its blockchain-based products grows.
“We are adding support for four stablecoins running on four unique blockchains, representing two currencies that we can accept and convert to over 25 traditional fiat currencies,” said Visa CEO Ryan McInerney during the company’s fourth quarter and year-end earnings call.
He did not share details regarding which stablecoins or blockchains the company will add support for.
Visa Says There Is Momentum Around Stablecoins
Visa already offers support for stablecoins that include Circle’s USD Coin (USDC) and its Euro Coin (EURC), as well as PayPal USD (PYUSD) and Global Dollar (USDG). It supports these tokens across major blockchain networks such as Ethereum, Solana, Stellar and Avalanche.
McInerney said that Visa has seen “particular momentum with stablecoins,” adding that the company has facilitated $140 billion worth of crypto and stablecoin flows since 2020.
Global consumer spending within Visa’s stablecoin-linked card services has also seen a 4x increase over the fourth quarter when compared to a year ago, the CEO added.
“We expanded the number of stablecoins and blockchains available for settlement, and monthly volume has now passed a $2.5 billion annualized run rate,” he continued.
Stablecoins Will Be A Key Area Of Focus For Visa
He said that stablecoins will be a key area of focus for the payments giant, with the goal to expand its stablecoin offerings for banks and other financial institutions. He also said that Visa will look to facilitate more cross-border transactions.
Visa will continue enhancing and investing in its solutions layer as well. This will enable the payments giant to offer more features to its clients and partners.
“We are starting to enable banks to mint and burn their own stablecoins with the Visa tokenized asset platform, and we are adding stablecoin capabilities to enhance cross-border money movement with Visa Direct,” McInerney added.
“There is much more to come in this space,” the CEO told investors.
Stablecoin Race Heating Up
Visa’s push to expand its stablecoin offering comes amid a global boom for the sector.
Just recently, Western Union announced that it is working on its own stablecoin, and said that it will launch around the first half of 2026. This stablecoin will be built on Solana and issued through Anchorage Digital.
South Korean crypto custodian BDACS has also announced its plans to issue a won-backed stablecoin, KRW1, on the Arc blockchain.
Earlier this week, USDC issuer Circle announced the launch of the Arc testnet, which it wants to position as the “Economic OS of the internet.”
Meanwhile, Japan has also launched the first yen-pegged stablecoin, JPYC, which is also the first digital token in Asia that can be issued globally.
The Trump family has also launched its own stablecoin, USD1, earlier this year through their decentralized finance (DeFi) platform World Liberty Financial.
Largest stablecoins by market cap (Source: CoinMarketCap)
Since its launch, USD1 has become the fifth-largest stablecoin by market cap.
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