The Visa World Payment Supplier (V) extends its Stablecoin regulation platform to new blocks of blocks and stablescoins, the company announced on Thursday.
The company will now support chips of two dollars, Paypal USD (Pyusd) and Global Dollar (USDG), thanks to a partnership with Paxos. He also adds the EURC supported by the Euro, issued by Circle Internet (CRCL), giving partners access to the regulations in US dollars and euros.
Two new blockchains, Stellar (XLM) and Avalanche (AVAX), will join the existing visa support for Ethereum (ETH) and Solana (Sol). With the additions, the company’s settlement platform supports four Stablecoins, including the USDC, out of four blockchains.
The update comes while stablecoins are gaining ground among payment providers, fintechs and banks looking for faster cross -border transactions. A giant in traditional payments, Visa was an early mover in the space of Stablecoin, exploring colonies with the USDC in 2020. Last year, the company unveiled a tokenization platform for banks and institutions to help emit tokens and stablecoins.
By supporting several stablescoins and channels, Visa aims to reduce friction for wallets and developers and meet the growing demand for interoperable payments to the reserve.
“We believe that when the stablecoins are reliable, scalable and interoperable, they can fundamentally transform the way money moves around the world,” said Rubail Birwadker, a global leader in Visa Growth Products and Strategic Partnerships. “Visa builds a multi-multi-chain foundation to meet the needs of our partners around the world.”
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