VISA EXPANDS STABLECOIN SUPPORT TO INCLUDE $PYUSD, $USDG, $AND EURC SETTLEMENT NOW ACTIVE ON STELLAR, AVALANCHE, ETHEREUM, AND SOLANA
BREAKING: VISA ADDS SUPPORT FOR PYUSD, USDG, AND EURC STABLECOINS SETTLEMENT NOW LIVE ON STELLAR, AVALANCHE, ETHEREUM AND SOLANA Source: @Cointelegraph https://t.co/D6K7XnnDMq https://t.co/hr8Y1lns6P
Visa expands stablecoin settlement to include PayPal's PYUSD, Paxos-issued USDG, Circle's EURC, and adds support for Stellar and Avalanche https://t.co/RpopWd4r8T
Visa Inc. said on 31 July it has broadened its stablecoin settlement network by adding support for two U.S. dollar–pegged tokens—Global Dollar (USDG) issued by Paxos and PayPal USD (PYUSD)—alongside Circle’s euro-denominated EURC. The new coins can now be used by card issuers and merchants to settle transactions directly with Visa. The payments company also expanded the number of blockchains its service can access, integrating Stellar and Avalanche in addition to its existing connections to Ethereum and Solana. The upgrade gives clients a four-network option for on-chain settlement, which Visa says can cut cross-border costs and accelerate payment finality. “Stablecoins can solve important payments problems for certain use cases, and Visa’s role is to provide trust and standards,” chief executive officer Ryan McInerney told analysts on the firm’s fiscal third-quarter earnings call. The latest additions extend a multi-chain, multi-coin platform first piloted with USDC in 2021 and underscore Visa’s push to embed blockchain rails within traditional card infrastructure.