Visa announced that it will begin supporting four stablecoins across four different blockchains, with the ability to convert them into more than 25 fiat currencies. CEO Ryan McInerney confirmed that stablecoin-linked Visa card spending in the fourth quarter was four times higher than a year earlier.
Since 2020, the company has processed nearly $140 billion in crypto and stablecoin transactions, including more than $100 billion in digital asset purchases made with Visa cards. It currently operates over 130 stablecoin-linked card programs across more than 40 countries.
Visa will also enable banks to issue and burn their own stablecoins through the Tokenized Asset Platform and will add stablecoin capabilities to Visa Direct to enable faster cross-border payments. According to the company, more than $670 billion in stablecoin-denominated loans have originated over the past five years.
Source: https://x.com/VisaNews/status/1983292303788605725
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