Global payment giant Visa has announced a significant expansion of its stablecoin payment platform, adding support for three new stablecoins and two additional blockchain networks. This move marks an important advancement in the company’s digital payment strategy.
In its latest announcement, Visa has integrated the following stablecoins into its payment system:
- PYUSD from PayPal
- USDG issued by Paxos
- EURC from Circle
With these additions, the total number of supported stablecoins has increased to four, including the previously supported USDC.
Visa has also expanded its multi-chain infrastructure to include four major blockchain networks: Ethereum, Solana, Stellar and Avalanche.
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A notable highlight of this expansion is the integration of EURC, a stablecoin pegged to the euro. Visa stated that this addition allows partners in the pilot program to process payments using both U.S. dollar-pegged and euro-pegged stablecoins, thereby enhancing cross-border payment flexibility and efficiency.
Visa’s continued expansion of support for various stablecoins and blockchain networks reflects the growing acceptance of cryptocurrencies by traditional financial institutions. This move not only enhances Visa’s competitiveness in the digital payments landscape but also provides more options for users and businesses.
The diversity of supported stablecoins and blockchains enables Visa to cater to a wide range of payment needs, from domestic transactions to international payments, while leveraging the unique advantages of each blockchain network, such as transaction speed, low fees, and scalability.
