Visa Explores Expanded Stablecoin Support Amid Growing Institutional Interest and Market Competition
Main Idea
Visa has expanded its stablecoin support to include PayPal USD, Euro Coin, and new blockchain networks Stellar and Avalanche, enhancing its settlement platform and increasing flexibility for cross-border payments.
Key Points
1. Visa now supports stablecoins like Global Dollar (USDG), PayPal USD (PYUSD), and Euro Coin (EURC) on Stellar and Avalanche networks, in addition to existing support for USDC on Ethereum and Solana.
2. The total stablecoin market cap has grown to over $256 billion, reflecting increasing institutional and industry adoption.
3. Stablecoins are disrupting traditional payment systems due to their efficiency in cross-border commerce, attracting attention from major financial institutions like Visa and Mastercard.
4. Regulatory scrutiny remains a challenge for stablecoins, with initiatives like the GENIUS bill in the U.S. aiming to provide clearer frameworks.
5. Visa's expansion signals broader institutional embrace of blockchain-based payments, though compliance with AML and KYC regulations remains essential.
Description
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