Visa Stablecoin Settlement Volume Surpasses $25 Billion Annually

Visa stablecoin settlement volume has already gone beyond $25 billion annually, showing ten times more compared to the figures from one year ago. The figure was mentioned by the firm’s CEO Ryan McInerney during the firm’s quarterly call on Tuesday. Currently, Visa supports five different stablecoins across 10 blockchains, providing more choices to finance and payment organizations when transferring funds. The extension may raise the question of which stablecoins will be favored as Visa becomes stronger in the digital payments industry. The increase in the number of stablecoin settlements via the Visa payment platform is attributed to an increase in the use of cryptocurrencies in making payments. According to McInerney, the Visa network currently handles five stablecoins, namely USDC, USDG, EURC, PYUSD, and SBC, which is a dollar-stablecoin from Brale.

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