CryptoWorld News reports that Visa is expanding its stablecoin settlement network, adding five new blockchains, including Arc, Base, Canton, Polygon, and Tempo, bringing the total number of supported blockchains to nine. This expansion provides a broader technical foundation for Visa to test the flow of tokenized US dollars across different networks. Visa stated that its on-chain settlement volume is currently approximately $7 billion annually, still small compared to global card transaction volumes, but growing about 50% quarter-over-quarter. The pilot is part of Visa's larger push for stablecoins, which currently supports over 130 stablecoin-linked card projects across more than 50 countries. The use of stablecoins can reduce friction in cross-border settlements, improve US dollar liquidity, and operate outside traditional banking hours.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin