SAN FRANCISCO / LONDON (IT BOLTWISE) – Visa plans to expand its support for stablecoins on four different blockchains. This strategic decision aims to strengthen the company’s crypto services and promote the adoption of stablecoins in the global payments landscape. Visa CEO Ryan McInerney highlighted the growth potential and importance of stablecoins for the future of payments.
Today’s daily deals at Amazon! ˗ˋˏ$ˎˊ˗
Visa, a global leader in payments, has announced that it is expanding its support for stablecoins on four different blockchains. This decision is part of a broader strategy to strengthen the company’s crypto services and promote the adoption of stablecoins in the global payments landscape. Visa CEO Ryan McInerney explained that the company plans to continue expanding its stablecoin offerings to meet the growing needs of the market.
Currently, Visa already supports stablecoins such as Circle’s USDC and Euro Coin as well as PayPal USD and Global Dollar on the Ethereum, Solana, Stellar and Avalanche blockchains. This expansion will allow Visa to accept two currencies and convert them to over 25 traditional fiat currencies. McInerney highlighted that the company has facilitated $140 billion in crypto and stablecoin transactions since 2020.
A key focus of Visa is expanding stablecoin services for banks and traditional financial institutions. This includes supporting cross-border transactions, which can be made more efficient through stablecoins. McInerney emphasized that Visa is working to give banks the ability to mint and burn their own stablecoins, made possible by the Visa tokenized asset platform.
The introduction of these new services could have a significant impact on global payments. Experts see the increased use of stablecoins as an opportunity to process transactions faster and more cost-effectively. This could be particularly beneficial for cross-border payments, which traditionally involve high fees and long processing times. Visa’s commitment to this space shows that the company is ready to take a leading role in integrating cryptocurrencies into mainstream payments.
*Order an Amazon credit card with no annual fee with a credit limit of 2,000 euros! a‿z
Bestseller No. 1 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 2 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 3 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 4 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 5 ᵃ⤻ᶻ “KI Gadgets”
Please send any additions and information to the editorial team by email to de-info[at]it-boltwise.de. Since we cannot rule out AI hallucinations, which rarely occur with AI-generated news and content, we ask you to contact us via email and inform us in the event of false statements or misinformation. Please don’t forget to include the article headline in the email: “Visa expands stablecoin support to four blockchains”.
The post Visa expands stablecoin support to four blockchains appeared first on Veritas News.
