Visa Expands Stablecoin Functionality with Incorporation of Avalanche and Stellar Support
Visa has broadened its stablecoin settlement platform, now supporting four stablecoins and four blockchain networks. The newly added stablecoins include Global Dollar (USDG) and PayPal USD (PYUSD), as well as a euro-backed stablecoin, EURC. Visa has also added two new blockchains to its platform: Stellar and Avalanche, joining the previously supported Ethereum and Solana blockchains.
This expansion aims to facilitate global stablecoin-based transactions by building a multi-coin, multi-chain infrastructure. The new stablecoins are issued by established entities like Paxos and PayPal, and the euro-backed EURC integration allows settlement in both USD- and EUR-backed stablecoins, providing more flexible settlement options for Visa partners.
Visa's infrastructure now supports over 25 fiat currencies settlement worldwide and is focused on expanding stablecoin acceptance to meet increasing demand from banks, merchants, fintechs, and developers. The company aims to reduce friction and increase the speed of cross-border and on-chain transactions.
Visa has also invested in stablecoin infrastructure platforms and partnered with entities like Stripe-owned Bridge to scale stablecoin-linked card offerings. This move comes as banks, major companies, and U.S. states show interest in issuing stablecoins to accelerate payments using blockchain technology.
Meanwhile, the daily price data for Stellar's native token, XLM, remains unchanged at $0.40. Avalanche's AVAX, the crypto network behind AVAX, the 22nd largest digital asset by market cap, was trading for $22.59, down more than 2.4% on the day. Interestingly, Visa's stock finished the day down by 1.5%.
The GENIUS Act, which outlines requirements for issuers, sets standards for reserves and audits, and establishes clear rules for how stablecoins can be used and traded across financial markets, was recently signed into law by President Trump. Initially, stablecoins were primarily used by traders to move funds without relying on traditional banks. However, with the increasing interest and support from companies like Visa, their role in the financial industry is evolving.
Visa believes that when stablecoins are trusted, scalable, and interoperable, they can fundamentally transform how money moves around the world. As the landscape continues to evolve, it will be interesting to see how this transformation unfolds.
[1] Source: Visa Press Release, [Date] [2] Source: CoinDesk, [Date] [3] Source: Stripe Press Release, [Date] [4] Source: The Block, [Date]
- Visa's stablecoin settlement platform now supports four stablecoins and four blockchain networks, including Global Dollar (USDG), PayPal USD (PYUSD), EURC, Stellar, and Avalanche.
- The expansion of Visa's platform aims to facilitate global stablecoin-based transactions, building a multi-coin, multi-chain infrastructure.
- Established entities like Paxos and PayPal have issued the newly added stablecoins.
- The euro-backed EURC integration allows settlement in both USD- and EUR-backed stablecoins, providing more flexible settlement options for Visa partners.
- Visa's infrastructure now supports over 25 fiat currencies settlement worldwide and is focused on expanding stablecoin acceptance to meet increasing demand.
- Daily price data for Stellar's native token, XLM, remains unchanged at $0.40, while Avalanche's AVAX was trading for $22.59, down more than 2.4% on the day.
- Visa's stock finished the day down by 1.5%.
- The GENIUS Act, which outlines requirements for issuers, sets standards for reserves and audits, and establishes clear rules for how stablecoins can be used and traded across financial markets, was recently signed into law by President Trump.
- As the landscape continues to evolve, Visa believes that when stablecoins are trusted, scalable, and interoperable, they can fundamentally transform how money moves around the world.
