Visa adding support for four stablecoins on four unique blockchains, as spend quadrupled last quarter
The Block
Visa is adding support for four stablecoins across four blockchains, as stablecoin-linked card spending quadrupled last quarter.Summary
Visa's CEO, Ryan McInerney, announced during the Q4 earnings call that the company is expanding its support to include four stablecoins running on four distinct blockchains, representing two currencies that can be converted into over 25 traditional fiat currencies. This move aligns with Visa's increased focus on stablecoins, especially following regulatory clarity for USD-pegged tokens. McInerney noted that stablecoin-linked Visa card spending quadrupled year-over-year in Q4, and since 2020, Visa has facilitated over $140 billion in crypto and stablecoin flows. Furthermore, Visa has over 130 stablecoin-linked card issuing programs globally and has begun enabling banks to mint and burn their own stablecoins.
(Source：The Block)