Visa Expands Stablecoin Settlement Pilot to Nine Blockchain Networks

Visa has taken another step forward in its efforts to revolutionize cross-border payments by expanding its stablecoin settlement pilot to nine blockchain networks.

The program, which allows issuers and acquirers to settle transactions using stablecoins instead of traditional banking systems, has seen a significant increase in volume, reaching an annualized run rate of $7 billion. This represents a 50% increase compared to the previous quarter.

The addition of five new blockchain networks, including Base, Polygon, Canton Network, Circle's Arc, and Tempo, brings the total number of supported networks to nine. These platforms join Ethereum, Solana, Avalanche, and Stellar, which Visa integrated earlier.