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yesterday

Visa to Support Four New Stablecoins Across Four Blockchains

The move follows a fourfold jump in stablecoin card spending with volume at a $2.5 billion annualized pace.

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Visa to add support for four new stablecoins as demand picks up
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Overview

  • CEO Ryan McInerney said the new assets, spanning four unique chains and two currencies, will be convertible into more than 25 fiat currencies.
  • Visa did not disclose which specific stablecoins or blockchains will be added.
  • Stablecoin-linked Visa card spending rose about 4x year over year, and monthly volume has reached an annualized run rate of roughly $2.5 billion.
  • The company now runs more than 130 stablecoin-linked card programs across over 40 countries and has processed over $140 billion in crypto and stablecoin flows since 2020, including more than $100 billion in asset purchases.
  • Visa is building bank tools to mint and burn stablecoins via its tokenized asset platform and is piloting Visa Direct prefunding with USDC and EURC for faster cross-border payouts.