Visa to Enhance Stablecoin Support Across Four Blockchains

Visa to Expand Stablecoin Support Across Four Blockchains

Visa is intensifying its engagement in the digital asset space by announcing plans to support four new stablecoins across four distinct blockchains, part of its comprehensive strategy to expand within the cryptocurrency sector.

Key Takeaways:

Visa will integrate four new stablecoins operating on four different blockchains, broadening its digital asset infrastructure and global payment capabilities.
Since 2020, the company has facilitated over $140 billion in stablecoin and crypto transactions.
Visa's plans include enabling banks to mint and burn stablecoins through its tokenized asset platform.

During a recent earnings call, CEO Ryan McInerney stated that Visa aims to “add support for four stablecoins running on four unique blockchains, enabling the acceptance and conversion to over 25 traditional fiat currencies.”

This initiative highlights Visa’s increasing trust in stablecoins as a crucial link between traditional finance and blockchain-based transactions.

Expanding Beyond Existing Stablecoins

While McInerney did not specify which stablecoins or blockchains would be involved, this update builds upon Visa's current integrations.

Presently, the company supports Circle’s USDC, Euro Coin (EURC), PayPal’s PYUSD, and Global Dollar (USDG) on networks like Ethereum, Solana, Stellar, and Avalanche.

Over the past year, Visa's ambitions in the stablecoin realm have rapidly accelerated. McInerney noted “particular momentum” in the sector, revealing that the firm has facilitated over $140 billion in crypto and stablecoin transactions since 2020.

Additionally, Visa's stablecoin-linked card offerings have seen a quadrupling in spending year-over-year, and its stablecoin settlement network exceeded a $2.5 billion annualized volume in the latest quarter.

Visa is also enhancing its role as a facilitator for banks looking to enter the stablecoin market.

Through its Visa Direct pilot program launched in September, the company enables financial institutions to pre-fund cross-border payments using USDC and EURC.

Looking ahead, McInerney mentioned that the next phase would focus on allowing banks to mint and burn their own stablecoins via Visa’s tokenized asset platform, while also improving cross-border money transfers through Visa Direct.

“There is much more to come in this space,” McInerney told investors, indicating Visa's desire to establish stablecoins as a mainstream payment method for global commerce.

Meanwhile, stablecoin transactions worldwide have surged to $46 trillion, reinforcing their status as one of the fastest-growing elements of the digital financial ecosystem.

Western Union Planning Dollar-Backed Stablecoin Launch by 2026

Western Union is stepping into the stablecoin arena, intending to launch the US Dollar Payment Token (USDPT) on the Solana blockchain in the first half of 2026.

This token, issued by Anchorage Digital Bank, will enable users to transfer funds globally with lower fees and quicker settlement times, thereby decreasing dependence on traditional banking systems and fluctuating currency conversions.

CEO Devin McGranahan described this initiative as an extension of Western Union’s 175-year commitment to simplifying money transfers, now through the innovative technology of blockchain.

He explained that Solana was selected for its speed, scalability, and low-cost transactions, factors critical for the company’s high-volume remittance operations.

By utilizing blockchain technology, Western Union aims to make remittances almost instantaneous and more transparent.

Should USDPT gain widespread acceptance, it could spur the use of stablecoins beyond cryptocurrency trading, integrating them into everyday payments, bill settlements, and cross-border transactions, marking a significant milestone in the journey toward mainstream digital dollar adoption.