Visa is stepping up its digital currency ambitions with the expansion of its stablecoin network to four new blockchains, marking one of the company’s most comprehensive forays into blockchain-based payments to date.
Announced during its fourth-quarter and year-end earnings call on Tuesday, CEO Ryan McInerney confirmed that Visa now supports four stablecoins across four distinct blockchain networks, representing two major fiat currencies that can be converted into more than 25 traditional currencies globally.
The expansion highlights Visa’s determination to position itself at the intersection of traditional finance and decentralised payment infrastructure. As adoption of blockchain-based settlements accelerates, Visa’s stablecoin strategy aims to streamline cross-border transactions, enhance efficiency and cut settlement costs for financial institutions and fintechs worldwide.
Stablecoin Transactions Exceed $2.5 Billion Monthly
Visa’s latest update follows a period of explosive growth in stablecoin-linked payments. According to McInerney, global stablecoin card spending on Visa’s network quadrupled in the last quarter compared to the same period in 2023.
The company now processes an annualised stablecoin transaction volume of over $2.5 billion per month, underscoring surging consumer and institutional demand for blockchain-based settlement solutions.
Since 2020, Visa has facilitated over $140 billion in combined crypto and stablecoin flows, including more than $100 billion in crypto and stablecoin purchases through Visa-linked credentials. The surge reflects the broader adoption of tokenised assets and stablecoins as viable instruments for payments and remittances, rather than just speculative digital assets.
Currently, Visa supports major stablecoins, including USD Coin (USDC), Euro Coin (EURC), PayPal USD (PYUSD), and Global Dollar (USDG). These tokens operate across Ethereum, Solana, Stellar and Avalanche, each offering unique scalability and transaction cost advantages over legacy cross-border systems.
Empowering Banks and Fintechs With Stablecoin Capabilities
Visa’s next growth phase centres on embedding stablecoin capabilities directly within traditional banking systems. Through its Visa Direct initiative, a pilot launched in late September, banks can now pre-fund cross-border transfers using USDC and EURC, significantly reducing settlement time and cost.
McInerney revealed that Visa has begun enabling banks to mint and burn their own stablecoins through its tokenised asset platform, a move designed to enhance liquidity and settlement flexibility. By leveraging Visa’s trusted global payment infrastructure, banks and fintech partners can process stablecoin settlements while maintaining full regulatory compliance.
As of Q4, Visa boasts more than 130 stablecoin-linked card issuing programmes across over 40 countries, a testament to its growing role in the integration of digital assets with conventional payment rails.
Bridging Traditional Finance and Blockchain Systems
Visa’s expansion signals a pivotal step in the convergence of traditional finance (TradFi) and decentralised finance (DeFi). Stablecoins, pegged to fiat currencies, offer real-time settlement, transparency and programmability, qualities that traditional payment systems have long struggled to achieve at scale.
The company is also investing heavily in developing new APIs and blockchain infrastructure to support token issuance, redemption and transfer functionalities directly through Visa’s network. These solutions will serve as the foundation for future blockchain-based payment products aimed at financial institutions and global enterprises.
This strategic evolution positions Visa among the few major payment providers globally to integrate stablecoin settlement at the core of its operations. It’s a move that not only enhances transaction efficiency but also cements Visa’s leadership in the ongoing transformation of the digital payments landscape.
A Future Anchored in Tokenised Money
Visa’s stablecoin expansion arrives as governments and regulators increasingly embrace digital currency frameworks, particularly in the United States, where new guidelines for USD-pegged tokens have provided much-needed clarity for corporate adoption.
By adding multi-chain stablecoin support and enabling direct bank participation, Visa is setting the stage for a future where tokenised money flows as seamlessly as traditional fiat. The company’s focus on interoperability between legacy systems and blockchain rails underscores its long-term commitment to building a hybrid financial ecosystem, one that unites the speed of decentralised networks with the reliability of traditional payment systems.
