Visa to start supporting some stablecoins on four blockchains
Visa is expanding its crypto services by adding support for four stablecoins across four unique blockchains.Summary
Visa CEO Ryan McInerney announced that the payments giant will add support for four stablecoins running on four unique blockchains, representing two currencies that can be converted into over 25 fiat currencies. While specific details on the new stablecoins and networks were not shared, Visa already supports USDC, EURC, PYUSD, and USDG on Ethereum, Solana, Stellar, and Avalanche. McInerney highlighted significant momentum, noting $140 billion in crypto and stablecoin flows since 2020, with stablecoin-linked card spending increasing fourfold year-over-year in Q4, reaching a $2.5 billion annualized run rate. Furthermore, Visa is enabling banks to mint and burn their own stablecoins using the Visa tokenized asset platform and enhancing cross-border money movement with Visa Direct.
(Source：Cointelegraph)