Visa Expands Stablecoin Settlement Pilot to Nine Blockchains

Visa has made significant strides in its efforts to incorporate stablecoins into mainstream payment systems. The company has expanded its stablecoin settlement pilot to nine blockchains, including Arc, Base, Canton, Polygon, and Tempo, among others.

The annualized run rate of the pilot has reached $7 billion, a 50% increase from the previous quarter. This development indicates that stablecoins are becoming an increasingly viable option for payment firms looking to move value across borders and institutions.

Visa's expansion into new blockchains is part of its broader efforts to provide a more inclusive and flexible settlement layer for payment networks. By supporting multiple chains, Visa aims to cater to the diverse needs of its partners, including predictable costs, stablecoin liquidity, and transfer guarantees.