Visa has recently expanded its stablecoin settlement infrastructure by incorporating additional digital assets and blockchain networks.
New USD-backed Stablecoins
The company has now added support for two new USD-backed stablecoins, Global Dollar (USDG) and PayPal USD (PYUSD), alongside the EURC, a euro-denominated stablecoin issued by Circle.
This expansion is part of Visa’s broader strategy to enhance the adoption of stablecoins in payments and settlements. The network now supports four stablecoins across four different blockchain networks—Ethereum, Solana, Stellar, and Avalanche.
EURC Settlements Begin
Visa has initiated EURC settlement capabilities for select pilot partners, marking the first time this euro-denominated stablecoin is being used on the network. This move complements Visa’s existing USD-based stablecoin settlements, broadening its treasury infrastructure that currently supports over 25 fiat currencies.
Focusing on Interoperability and Scalability
According to Visa officials, the firm aims to create a platform that can accommodate multiple cryptocurrencies and blockchain networks. Key requirements include interoperability, scalability, and trustworthiness for stablecoins to be effective in real-world transactions.
The additions are through a partnership with Paxos, enabling Visa to conduct settlements in both USDG and PYUSD. Visa has previously worked with Circle on USDC and is now extending this collaboration to EURC.
Supporting Blockchain-Based Financial Tools
The new capabilities reflect Visa’s continued interest in serving institutions that are investigating or utilizing blockchain-based financial tools. Visa’s infrastructure is designed to handle settlements involving cards operating on various blockchains, as well as to facilitate interoperability between digital wallets.
Earlier this year, Visa announced plans to increase the number of stablecoin-linked card programs, an initiative aimed at streamlining cross-border and on-chain transactions for banks, merchants, developers, and fintech companies. The company’s settlement strategy focuses on developing a payments layer that supports digital currencies at scale, aligning with traditional payment systems in terms of speed, reliability, and reach.
