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Visa incorporates Polygon into its global stablecoin settlement network
ME News Report, April 29 (UTC+8), according to the Polygon blog, Visa has integrated the Polygon network into its global stablecoin settlement program, allowing partner card issuers and acquirers to settle stablecoins on Polygon. The article states that the current annualized stablecoin settlement volume of this program is approximately $7 billion, a 50% increase over the past three months. Recent data shows that about 34% of USD stablecoin transfers and 54% of USDC transfers occur on Polygon, with March seeing 178 million USD stablecoin transactions, including 19.8 million P2P payments. The total stablecoin supply on Polygon is approximately $3.62 billion, with around 3.19 million active stablecoin addresses weekly. Visa’s move also connects to Polygon’s Open Money Stack, used for compliant wallets, cross-chain routing, and fiat on/off ramps. (Source: PANews)