Visa To Support Four Stablecoins on Four Blockchains – Crypto News

Global payments giant Visa is set to roll out support for four stablecoins across four “unique blockchains,” as the firm pushes to ramp up its crypto services.

Visa CEO Ryan McInerney told investors on the company’s fourth-quarter and year-end earnings call on Tuesday that the firm will continue expanding its stablecoin offerings amid strong growth over the last financial year.

“We are adding support for four stablecoins running on four unique blockchains, representing two currencies that we can accept and convert to over 25 traditional fiat currencies.”

McInerney did not share details on the stablecoins and networks Visa will support, but the move will bolster the company’s supported list of networks and stablecoins.

Visa already backs stablecoins, including Circle’s USDC (USDC) and Euro Coin (EURC), along with PayPal USD (PYUSD) and Global Dollar (USDG), on the Ethereum, Solana, Stellar and Avalanche blockchains. 

McInerney said the firm sees “particular momentum with stablecoins,” as he pointed to $140 billion worth of facilitated crypto and stablecoin flows since 2020.