Payment company Visa has expanded its payment platform by adding support for new stablecoins and blockchains.
As part of its partnership with Paxos, the firm has integrated the stablecoins Global Dollar (USDG) and PayPal USD (PYUSD), adding Stellar and Avalanche to the already supported Ethereum and Solana networks.
The payments giant has also launched Circle's EURC stablecoin, which is pegged to the euro.
“Visa is building a multi-coin and multi-chain foundation to help meet the needs of our partners worldwide,” said Rubail Birwadker, head of product development and strategic partnerships.
With the integration of EURC, some Visa partners will be able to process payments in both dollar and euro stablecoins as part of the pilot project.
Payment giant turnover
Over the course of its history, Visa has processed over $200 million in stablecoin transactions. The company called this an important milestone but noted that the technology requires clearer rules for further scaling.
The company is testing “stablecoins” through its Visa Direct service, focusing on cross-border transfers where traditional systems continue to experience delays. 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 said he hopes for “clearer, more pragmatic regulations” in the U.S. and elsewhere. In July, President Donald Trump signed the GENIUS Act, the country’s first major cryptocurrency law.
BitSave CEO Zakhila Suresha told Decrypt that currently only 10–20% of stablecoin transactions involve payments. The rest is trading and liquidity. He predicts that within a year, the share of payments will exceed 50% amid the introduction of regulation.
Blockon Ventures founder Jagdish Pandya compared the current state of the stablecoin market to e-commerce in the late 1990s. According to him, Visa’s daily transaction volume of $5 trillion to $7 trillion dwarfs the $20 billion to $30 billion in stablecoins. However, he expects mass adoption of digital assets in the next decade.
