Visa (V) is expanding its stablecoin campaign by adding support for five additional blockchains, while building on a multi-chain approach to global payments.
The payments giant said Wednesday that its stable settlement pilot now spans nine networks and has reached an annualized run rate of $7 billion, up 50% from the previous quarter. The program allows issuers and acquirers to settle transactions using stablecoins instead of traditional banking rails.
The newly supported blockchains are Coinbase, Polygon, Canton Network, Circle’s Arc and Stripe-backed Tempo, joining existing integrations with Ethereum, Solana, Avalanche and Stellar.
Visa’s move comes as stablecoins – cryptocurrencies whose prices are linked to fiat currency – gain traction as a way to move money across borders. Visa has tested this model through pilots and regional deployments, including USDC settlement linked to card programs in more than 50 countries.
Instead of waiting days for funds to pass through banking systems, partners can settle transactions using blockchain-based dollars that move in near real time. By supporting multiple networks, Visa aims to enable partners to access different liquidity pools without additional complexity.
“Our partners are building in a multi-chain world and they expect their options to reflect that reality,” said Rubail Birwadker, global head of growth products and strategic partnerships at Visa. “Expanding our stable settlement pilot program to more blockchains means our partners can choose the networks that best meet their needs, while relying on Visa to provide a common settlement layer for all.”
