Visa integrated stablecoins on Avalanche and Stellar

The payment company Visa has expanded its settlement platform by adding support for new stablecoins and blockchains.

As part of the partnership with Paxos, the firm integrated the stablecoins Global Dollar (USDG) and PayPal USD (PYUSD). Stellar and Avalanche have been added to the already supported networks Ethereum and Solana.

The payment giant has also started working with the EURC stablecoin from Circle, which is tied to the euro.

“Visa is creating a multi-chain and multi-coin foundation to meet the needs of our partners around the world,” said Rubail Birwadker, head of product development and strategic partnerships.

Thanks to the integration of EURC, some Visa partners will be able to conduct settlements in both dollar and euro stablecoins as part of the pilot project.

Turnover of the payment giant

Throughout its history, Visa has conducted settlements in stablecoins totaling over $200 million. The company called this an important milestone, but noted that the technology requires clearer rules for further scaling.

The company is testing "stablecoins" through the Visa Direct service. The focus is on cross-border transfers, where delays persist in traditional systems. Visa is also working on the Visa Tokenized Asset Platform, which will allow banks to issue and use stablecoins for programmable finance.

Visa CEO Ryan McInerney expressed hope for the adoption of "clearer and more pragmatic regulations" in the U.S. and other countries. In July, President Donald Trump signed the GENIUS Act — the first major cryptocurrency legislation in the country.

The head of BitSave, Zahil Suresh, told Decrypt that currently only 10-20% of transactions with stablecoins are related to payments. The rest is accounted for by trading and providing liquidity. He predicts that within a year, the share of payments will exceed 50% against the backdrop of emerging regulations.

The founder of Blockon Ventures, Jagdish Pandya, compared the current state of the "stablecoin" market to e-commerce in the late 90s. According to him, the daily transaction volume of Visa at $5 trillion-$7 trillion significantly exceeds $20 billion-$30 billion in stablecoins. However, he anticipates mass adoption of digital assets in the next decade.

Recall that in May, Visa invested in the British startup BVNK, which is developing infrastructure for transactions in stablecoins.