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Visa expands stablecoin settlement network to 9 chains, with an annualized settlement volume of $7 billion
BlockBeats News, April 29 — Payment giant Visa announced the expansion of its stablecoin settlement pilot network, adding support for Base, Polygon, Canton Network, Arc, and Tempo supported by Stripe, now covering 9 blockchain networks. Previously, Visa supported Ethereum, Solana, Avalanche, and Stellar.
Visa stated that its stablecoin settlement project currently has an annualized operational scale of $7 billion, a 50% increase from the previous quarter. This project allows card-issuing and acquiring institutions to settle directly using stablecoins, rather than relying on traditional banking clearing systems.
Rubail Birwadker, Head of Global Growth Products and Strategic Partnerships at Visa, said that current partners are in a “multi-chain world,” and Visa aims to provide broader liquidity access for partners by supporting more networks, while using Visa as a unified settlement layer to facilitate cross-chain coordination.