Global digital payment company Visa, has announced plans to enhance its settlement platform by incorporating additional stablecoins and blockchain technologies.
This decision comes amid a global shift toward a more crypto-friendly landscape. After years of skepticism regarding digital assets, the US recently passed three significant bills aimed at providing a new regulatory framework for the adoption and growth of the sector.
Rubail Birwadker, Visa’s global head of growth products and strategic partnerships, emphasized the company’s vision for a robust, multicoin and multichain infrastructure.
He stated, “We believe that when stablecoins are trusted, scalable, and interoperable, they can fundamentally transform how money moves around the world.”
Additionally, the platform will now support the Stellar (XLM) and Avalanche (AVAX) blockchains, joining previously supported networks like Ethereum (ETH) and Solana (SOL).
This expansion allows Visa to offer its partners more diverse settlement options, including the ability to transact in both USD- and EUR-backed stablecoins, thereby enhancing its crypto and treasury infrastructure.
It warns that a failure to adopt stablecoins could jeopardize the dominance of the US dollar in the global economy. Furthermore, The report advocates for a structured framework for digital finance, suggesting that banking regulators should implement technology-neutral risk frameworks.
Taddeo noted that transferring substantial amounts of money—ranging from $10 million to $30 million—across international borders typically takes three to five business days. However, with stablecoins, such transactions can be completed in as little as four to eight hours.
Featured image from DALL-E, chart from TradingView.com
