Visa expands stablecoin settlement network as volume hits $7 billion run rate

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Visa expands stablecoin settlement network as volume hits $7 billion run rate The payments giant added support for Stripe's Tempo, Circle's Arc, Coinbase's Base, Polygon and Canton Network as stablecoins gain traction in global money movement. What to know: - Visa is expanding its stablecoin settlement pilot to nine blockchains, adding Base, Polygon, Canton Network, Arc and Tempo to existing support for Ethereum, Solana, Avalanche and Stellar. - The program, which lets issuers and acquirers settle transactions in stablecoins instead of through traditional banking rails, has reached a $7 billion annualized run rate, up 50% from the prior quarter. - By supporting multiple networks and enabling near real-time, cross-border settlement with USDC and other stablecoins, Visa aims to give partners access to broader liquidity while serving as a common settlement layer. Visa (V) is expanding its stablecoin push by adding support for five more blockchains as it leans into a multichain approach to global payments. The payments giant said Wednesday its stablecoin settlement pilot now spans nine networks and has reached a $7 billion annualized run rate, up 50% from the prior quarter. The program lets issuers and acquirers settle transactions using stablecoins instead of traditional banking rails. The newly supported blockchains are Coinbase's Base, 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 with prices tied to fiat money — are gaining ground as a way to move money across borders. Visa has been testing that model through pilots and regional rollouts, including USDC settlement tied to card programs in more than 50 countries. Instead of waiting days for funds to move through banking systems, partners can settle transactions using blockchain-based dollars that move in near real time. By supporting multiple networks, Visa is aiming to give partners access to different pools of liquidity without added complexity. "Our partners are building in a multi-chain world, and they expect their options to reflect that reality," said Rubail Birwadker, Visa's global head of growth products and strategic partnerships. "Expanding our stablecoin settlement pilot program to more blockchains means our partners can choose the networks that best fit their needs, while relying on Visa to provide a common settlement layer across all of them." More For You The AAVE-led response and new safeguards underscore the sector's maturity as the bank maintains its $2 trillion RWA outlook. What to know: - Standard Chartered said the $292 million exploit triggered contagion across decentralized finance, hitting AAVE liquidity. - Industry backstop of $300 million helped stabilize deposits and yields. - The bank maintained its $2 trillion tokenized RWA forecast by 2028.

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