Visa Expands Stablecoin Settlement Network to Nine Blockchains

Visa has announced the expansion of its stablecoin settlement network to include five new blockchains, bringing the total number of supported networks to nine.

The payments giant's stablecoin settlement pilot has reached a $7 billion annualized run rate, up 50% from the prior quarter.

By supporting multiple blockchains, Visa aims to give its partners more flexibility and access to different pools of liquidity without added complexity.

Visa's move comes as stablecoins are gaining ground as a way to move money across borders, with transactions settling in near real time instead of days through traditional banking systems.