Visa plans to integrate support for four stablecoins issued in two fiat currencies and operating on different blockchains. These assets will be convertible into more than 25 fiat currencies, CEO Ryan McInerney said during the company’s Q4 earnings call.
According to McInerney, Visa has processed more than $140 billion in cryptocurrency and stablecoin transactions since 2020. Of that amount, users spent over $100 billion purchasing digital assets with Visa cards.
He added that spending volume on Visa cards connected to stablecoins has increased fourfold compared to last year. Growing interest from consumers and businesses in digital payments has become a key factor behind the company’s expansion of support for such assets.
Visa views stablecoins as a promising tool for payments and cross-border transfers. The company is already running pilot programs with U.S. dollar–pegged tokens to speed up international payments and reduce settlement costs.
At present, Visa operates more than 130 card issuance programs linked to stablecoins across over 40 countries. The company has also begun allowing banks to issue and burn their own stablecoins within Visa’s internal payment network infrastructure.
Read also:
- Visa Launches Pilot Project for Cross-Border Payments in Stablecoins
- Coinbase and Mastercard in Talks to Acquire BVNK for $2B
- Interest in Stablecoins Among Fortune 500 Companies Triples in One Year – Coinbase Report
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