Visa to Begin Supporting Select Stablecoins Across Four Blockchains
Visa Expands Stablecoin Support: Visa plans to support four new stablecoins across four unique blockchains, enhancing its crypto services and expanding its offerings for banks and financial institutions.
Growth in Stablecoin Transactions: The company reported a fourfold increase in consumer spending linked to stablecoin services, with annualized transaction volumes surpassing $2.5 billion.
Focus on Cross-Border Transactions: Visa aims to facilitate more cross-border payments using stablecoins, having initiated a pilot program for banks to pre-fund these transactions with USDC and EURC.
Innovative Solutions for Banks: Visa is developing features that allow banks to mint and burn their own stablecoins, further integrating stablecoin capabilities into its payment solutions.
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