Visa Expands Territory with Coin Payments...Dollar Hegemony Shifts to Stablecoins

▲ Visa, Stablecoin/ChatGPT Generated Image

Global payment giant Visa has dramatically expanded its stablecoin payment network to nine blockchains, embarking on a digital financial territory expansion valued at $7 billion annually.

According to cryptocurrency specialized media The Crypto Basic on April 30 (local time), Visa significantly strengthened its stablecoin payment pilot program and began supporting five new blockchain networks. The newly joined networks are Base, Polygon, Archax, Canton Network, and Tempo.

These networks, combined with the previously supported Ethereum (ETH), Solana (SOL), Avalanche (AVAX), and Stellar (XLM), have become key pillars forming Visa's blockchain payment infrastructure. Visa is intensively verifying the stability and efficiency of its blockchain-based payment system across diverse network environments.

Currently, Visa's stablecoin payment pilot program records an annual payment volume of approximately $7 billion, maintaining a rapid growth rate of over 50% each quarter. Visa stated that while stablecoin fund flows still represent a small portion of the overall payment volume, their growth potential is very high.

Visa announced that the primary objective of this program expansion is to ascertain whether stablecoins can accelerate payment speeds and innovatively improve the efficiency of cross-border remittances. In particular, it is focusing on evaluating the practical usability of stablecoins to complement the limitations of traditional financial infrastructure.

Based on the data obtained during the pilot operation, Visa plans to continuously review the usability and user convenience of the stablecoin payment system. Through this network expansion, the company aims to solidify the technological foundation for building a digital asset-based payment ecosystem.

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